Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $2,100 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 $960 per month $4,794 per month, plus 5% of sales $60 per piano sold $630 per month $4,996 per month $13,545 per month $689 per month $2,515 per month, plus $40 per piano sold $861 per month During August, Marwick's Pianos, Incorporated, sold and delivered 58 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.