Marwick's Planos, Incorporated, purchases planos from a manufacturer for an average cost of $1,489 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 $938 per month $4,810 per month, plus 5% of sales $61 per piano sold $644 per month $4,943 per month $13,457 per month $717 per month $2,497 per month, plus $43 per piano sold $938 per month During August, Marwick's Planos, Incorporated, 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. Note: A "Net operating loss" should be entered as a negative number. Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses