Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,517 per unit and then sells them to retail customers for an average price of $2,900 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 $955 per month $4,812 per month, plus 46 of sales $58 per piano sold $647 per month $5,023 per month $13,457 per month $696 per month $2,540 per month, plus $43 per piano sold $880 per month During August, Marwick's Pianos, Inc., sold and delivered 62 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: Selling expenses: 0 Total selling expenses Administrative expenses: Total selling expenses Administrative expenses: 0 Total administrative expenses 0 Total selling and administrative expenses 0 During August, Marwick's Pianos, Inc., sold and delivered 62 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 through contribution margin. Complete this question by entering your answers in the tabs below. 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 Planos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses Marwick's Planos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses 0 0