Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,520 per unit and then sells them to retail customers for an average price of $2,700 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling: Advertising Sales salaries and commissions Cost Formula $942 per month $4,830 per month, plus 6% of sales Delivery of pianos to customers $59 per piano sold Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance $654 per month $5,077 per month $13,568 per month $700 per month Clerical $ 2,541 per month, plus $36 per piano sold Depreciation of office equipment $906 per month During August, Marwick's Pianos, Inc., sold and delivered 60 pianos. Required: 1. Prepare a traditional format income statement for August. 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Variable expenses: Total variable expenses Contribution margin Fixed expenses: Per Total Piano Show less