Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,509 per unit and then sells them to retail customers for an average price of $2,600 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 $935 per month $4,796 per month, plus 5% of sales $63 per piano sold $668 per month $4,977 per month $13,435 per month $712 per month $2,532 per month, plus $41 per piano sold $888 per month During August, Marwick's Pianos, Incorporated, sold and delivered 56 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 11 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.)