Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,487 per unit and then sells them to retail customers for an average price of $2,300 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions Delivery of planos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $968 per month $4,797 per month, plus 6% of sales $61 per plano sold $665 per month $5,084 per month $13,434 per month $689 per month $2,501 per month, plus $41 per piano sold $901 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