Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,482 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 Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $940 per month $4,812 per month, plus 55 of sales $59 per piano sold $640 per month $4,959 per month $13,526 per month $704 per month $2,454 per month, plus $42 per piano sold $855 per month During August, Marwick's Planos, Inc., sold and delivered 65 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 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss should be entered as a negative number) Marwick's Planos, Inc. Traditional Income Statement Prepare a traditional format income statement for August. (A "Net operating loss' should be entered as a negative number.) Marwick's Planos, Inc. Traditional Income Statement For the Month of August 5:16 Selling and administrative expenses Selling expenses ances Total selling expenses Administrative expenses Total administrative expenses Total selling and administrative expenses Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses Contribution margin Fixed expenses Total fixed expenses