Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,505 per unit and then sells them to retail customers for an average price of $3,200 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $949 per month Sales salaries and commissions $4,829 per month, plus 4% of sales Delivery of pianos to customers $62 per piano sold Utilities $668 per month Depreciation of sales facilities $4,985 per month Administrative: Executive salaries $13,592 per month Insurance $701 per month Clerical (2,464 per month, plus $38 per piano Psold Depreciation of office $881 per month equipment During August, Marwick's Pianos, Inc., sold and delivered 57 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. Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses 0 Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Per Total Piano Variable expenses: 0 0 Total variable expenses Contribution margin Fixed expenses: Total fixed expenses 0