Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,495 per unit and then sells them to retail customers for an average price of $3,000 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 951 per month Sales salaries and commissions $ 4,772 per month, plus 5% of sales Delivery of pianos to customers $ 62 per piano sold Utilities $ 653 per month Depreciation of sales facilities $ 5,081 per month Administrative: Executive salaries $ 13,453 per month Insurance $698 per month Clerical $ 2,511 per month, plus $44 per piano sold Depreciation of office equipment $ 901 per month 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. Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses 0 0 (Required 1 Required 2 > Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: 0 0 Total variable expenses Contribution margin Fixed expenses: Total fixed expenses 0