Marwick's Planos, Inc, purchases planos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $2,000 each. The company's selling and administrative costs for a typical month are presented below: Corta Selling: Advertising Sales salaries and commission Delivery of plans to customers Utilities Depreciation of wale facilities Adastrative Seutive salaries Insurance clerical Depreciation of office equipment Cost Formula 5951 per month 54,30 per month, plus 5 of sales $42 per piano wold 5664 per month 55,001 per month 513,442 per month 5403 per month 52,529 per month, plus $38 per piano sold 5867 per month During August, Marwick's Planos, Inc, sold and delivered 63 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses Selling expenses Total seling experts Administrative expen 0 Total administrave expenses Totalling and adminative expenses Required Required 2 Marwick's Planos, Inc, purchases planos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $2,000 each. The company's selling and administrative costs for a typical month are presented below: Costa Cort Termula Selling: Advertising $150 per month Sales salaries and commissione 54,30 per month, plus 5t of sales Delivery of plans to customers 562 per piece wold 5664 per month elation et male tailities 53,081 per month Administratives Treutive salaries 513,442 per month Turance sus per month Cheriel $2,529 per month, plus $38 per piano sold Depreciation of office equipment 5867 per month During August, Marwick's Planos, Inc, sold and delivered 63 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. Complete this question by entering your answers in the tabs below. Required 1 Required 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. (A "Net operating loss should be entered as a negative number. Marwick's Planes, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses 0 Total variable expenses Contribution margin Fbad expenses Total fed expenses