Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,498 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: 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 $945 per month $4,821 per month, plus 4% of sales. $60 per piano sold $638 per month $5,023 per month $13,513 per month $691 per month $2,546 per month, plus $42 per piano sold $937 per month During August, Marwick's Planos, Incorporated, sold and delivered 55 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 negative number.) Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating Ic Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses 0 0 Required 1 Required Required 1 Required 2 Prepare a contribution format income statement for August. Show costs and revenues on both a total and a down through contribution margin. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Incorporated Contribution Format Income Statement. For the Month of August Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fixed expenses Total Per Piano 0 0 0 < Required 1 Required 2>