Marwicks Planos, Inc., purchases planos from a large manufacturer for an average cost of $1,491 per unit and then sells them to retall customers for an average price of $2.900 each. The company's selling and administrative costs for a typical month are presented below Costs Selling Cost Formul $963 per month $4,800 per month, plus 4% of sales $58 per piano sold $632 per month $4,992 per month Sales salaries and commassions Delivery of pianos to custoners Utilitie: Depreciation of sales facilities Executive salaries Insurance lerical Depreciation of office equipnent $13,489 per month $681 per month $2,511 per month, plus $44 per piano sold $871 per month During August, Marwick's Planos, Inc., sold and dellvered 55 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 basls down through contribution margin. Complete this question by entering your answers in the tabs below. Required 1Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) Traditional Income Statement For the Month of Selling and administrative expenses Selling expenses Total selling expenses Total administrative expenses Total selling and administrative expenses