Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1505 per unit and then sells them to retail customers for an average price of $2,200 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 facilition Administrative Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $951 per month $4,781 per month, plus 41 of sales $60 per piano sold $658 per month $4,962 per month $13,484 per month $693 per month $2.469 per month, plus $37 per piano sold $933 per month During August, Marwick's Pianos, Inc., sold and delivered 61 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 1 Required 2 Prepare a traditional format income statement for August. (A Net operating loss should be entered as a negativt number.) Marwick's Pianos, Inc. Traditional Income Statement