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 $3,000 each. The company's selling and administrative costs f a typical month are presented below: During August, Marwick's Pianos, Incorporated, sold and delivered 55 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