Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $1,480 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: 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 $948 per month $4,810 per month, plus 5% of sales $60 per piano sold $636 per month $5,090 per month $13,531 per month $699 per month $2,485 per month, plus $43 per piano sold $890 per month During August, Marwick's Pianos, Incorporated, sold and delivered 59 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. Note: A "Net operating loss" should be entered as a negative number. Marwick's Planos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses