Marwick's Planos, Inc. purchases planos from a large manufacturer for an average cost of $1,485 per unit and then sells th customers for an average price of $2,100 each. The company's selling and administrative costs for a typical month are pre below: Cost Formula 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 $961 per month $4,772 per month, plus 5% of sales $60 per piano sola $658 per month $4,968 per month $13,440 per month $711 per month $2,498 per month, plus $44 per piano sold $896 per month During August, Marwick's Planos, Inc., sold and delivered 60 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 L through contribution margin. 5 Complete this question by entering your answers in the tabs below. 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 unft 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.) Manuck's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses Total selling expenses Administrative expenses: 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 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) HA Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total vanable expenses Contribution margin Fixed expenses