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 $2.700 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 $953 per month $4,790 per month, plus 5% of sales $58 per piano sold $632 per month $4,990 per month $13,555 per month $709 per month $2,513 per month, plus $44 per piano sold $902 per month During August, Marwick's Planos, Incorporated, sold and delivered 64 pianos. 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) Marwick's Planos, Incorporated