Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,491 per unit and then sells them to retall customers for an average price of $2,300 each. The company's selling and administrative costs for a typical month are presented below: During August, Marwick's Pianos, Incorporated, sold and delivered 64 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. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Marwick's Pianos, Incorporated } \\ \hline \multicolumn{1}{|c|}{ Fontribution Format Income Statement } \\ \hline Sales & Total & Per Piano \\ \hline Variable expenses: & & \\ \hline Clerical & & \\ \hline Sales salaries and commissions & & \\ \hline Delivery of pianos & & \\ \hline Cost of goods sold & & \\ \hline & & \\ \hline Total variable expenses & & \\ \hline Contribution margin & & \\ \hline Fixed expenses: & & \\ \hline Advertising & & \\ \hline Sales salaries and commissions & & \\ \hline Utilitios & & \\ \hline Depreciation of sales facilities & & \\ \hline Executive salaries & & \\ \hline Insurance & & \\ \hline Clerical & & \\ \hline \end{tabular}