Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,516 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: During August, Marwick's Pianos, Incorporated, 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. Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Marwick's Pianos, Incorporated } \\ \hline \multicolumn{2}{|c|}{ Contribution Format Income Statement } \\ \hline For the Month of August \\ \hline & Total & PerPiano \\ \hline Variable expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total variable expenses & & \\ \hline Contribution margin & & \\ \hline Fixed expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total fixed expenses & & \\ \hline & & \\ \hline \end{tabular}