Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1.487 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. Cost Formula Costs Selling: Advertising Sales salaries and comissions Delivery of planos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $937 per month $4,797 per month, plus 4% of sales 561 per piano sold $654 per month $5,201 per month $13,537 per month $702 per month $2,543 per month, plus 541 per piano sold 5876 per month During August, Marwick's Planos, Inc., sold and delivered 57 planos 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 1 Required 2 Prepare a traditional format income statement for August. (A Not operating loss should be entered as negative number Marwick's Planos, Inc. Traditional Income Statement For the Month of August Prepare a traditional format income statement for August. (A "Net operating loss should be entered as a negative number ER FREE Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses Total administrative expenses Total selling and administrative expenses Required 2 > Required 1 Required 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 Total Por Plano Variable expenses Total variable expenses Contribution margin Fixed expenses Total foued expenses