Marwick's Pianos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,506 per unit and then sells them to retail customers for an average price of $2,400 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 953 per month Sales salaries and commissions $ 4,783 per month, plus 5% of sales Delivery of pianos to customers $ 58 per piano sold Utilities $ 666 per moth Depreciation of sales facilities $ 5,837 per month Administrative: Executive salaries $ 13,543 per month Insurance $ 706 per month Clerical $ 2,457 per month, plus $37 per piano sold Depreciation of office equipment $ 859 per month During August, Marwick's Planos, Incorporated, sold and delivered 58 planos 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 Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" Marwick's Pianos, 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 Required 1 Required 2 Prepare a contribution format income statement for August, Show costs down through contribution margin. (A "Net operating loss should be ente Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses Total variable expenses Contribution margin Fored expenses Total fored expenses