Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,502 per unit and then sells them to retail customers for an average price of $3,300 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 $ 954 per month $ 4,884 per month, plus 6% of sales $ 57 per piano sold $ 633 per month $ 4,954 per month $ 13,551 per month $ 717 per month $ 2,543 per month, plus $36 per piano sold $ 931 per month During August, Marwick's Planos, Incorporated, sold and delivered 59 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.) Sales Cost of goods sold Gross margin Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Advertising Sales salaries and commissions Delivery of pianos Utilities Depreciation of sales facilities Total selling expenses Administrative expenses: Executive salaries Insurance Clerical Depreciation of office equipment Total administrative expenses Total selling and administrative expenses Net operating income 0 0