Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,482 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: 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 Cost Formula $ 936 per month $ 4,796 per month, plus 6% of sales $ 61 per piano sold $ 650 per month $ 5,072 per month $ 13,501 per month $ 691 per month $ 2,479 per month, plus $44 per piano sold $ 909 per month During August, Marwick's Pianos, Incorporated, sold and delivered 61 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.) < Prev 2 of 5 Next > Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses 0 0 0 < Prev 2 of 5 Next > Cha Variable expenses: For the Month of August Total Per Piano Total variable expenses 0 0 Contribution margin Fixed expenses: Total fixed expenses 0 < Required 1 Required 2 < Prev 2 of 5 Next > Check my work