Marwick's Pianos, Inc. purchases planos from a large manufacturer for an average cost of $1,515 per unit and then sells them to retail customers for an average price of $2,800 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula 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 5945 per month $4,789 per month, plus 4% of sales 557 per piano sold $667 per month $4,960 per month $13,412 per month $716 per month $2,461 per month, plus 141 per piano sold $904 per month During August, Marwick's Planos, Inc., sold and delivered 56 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 1 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 For the Month of August Selling and administrative expenses & Prov 2 of 5 Next > mework Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be en Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses Selling expenses aces 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 down through contribution margin. (A "Net operating loss" should be entered as a negative number.) - Marwick's Planos, Inc. Contribution Format Income Statement For the Month of August Total Per Plano mt Variable expenses 5 ences Total variable expenses Contribution margin Fixed expenses Total forced expenses