Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $1,505 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: 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 $962 per month $4,799 per month, plus 5% of sales $59 per piano sold $667 per month $5,032 per month. $13,508 per month $702 per month $2,475 per month, plus $35 per piano sold $937 per month During August, Marwick's Pianos, Incorporated, sold and delivered 60 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.