Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,504 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below Coats Cost Formula Selling: Advertising $938 per month Sales salaries and commissions $4,802 per month, plus 41 of sales Delivery of pianos to customers $59 per piano sold Utilities $640 per month Depreciation of sales facilities $5,057 per month Administrative Executive salaries $13, 419 per month Insurance $689 per month Clerical $2,506 per month, plus $41 per piano sold Depreciation of office equipment $903 per month During August, Marwick's Pianos, Incorporated, sold and delivered 63 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. Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) 1-21 0 Saved Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be bed Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August ok nt ences Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: