Marwick's Pianos, Inc, purchases pianos from a large manufacturer for an average cost of $2.450 per unit and then sells them to retail customers for an average price of $3,125 each. The company's selling and administrative costs for a typical month are presented below Costs Selling: Cost Formula Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $700 per month $950 per month, plus 8% of sales $30 per piano sold $350 per month $800 per month Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $2,500 per month $400 per month $1,800 per month, plus $28 per piano sold $300 per month During August, Marwick's Pianos, Inc., sold and delivered 40 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