Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,481 per unit and then sells them to retail customers for an average price of $2,700 each. The company's selling and administrative costs for a typical month are presented below. Costa 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 $949 per month $4,790 per month, plus 5% of sales. $59 per piano sold $634 per month $4,958 per month $13,465 per month i $687 per month $2,527 per month, plus $44 per plano sold $871 per month. During August, Marwick's Pianos, Incorporated, sold and delivered 56 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.