Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 13,000 $ 17 $ 2 $ 3 $ 20,000 $ 16,000 $ 12,000 $ 26,000 $ 89,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required i Required 2 Prepare a traditional income statement. S 221000 75,000 146.000 Cherokee, Incorporated Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Administrative expenses 55,000 Selling expenses 46,000 Fixed manufacturing overhead 16,000 Selling expenses 20.000 Net operating income 137,000 36.000 $ Required Required 2 > Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 13,000 $ 17 $ 2 $ 3 $ 20,000 $ 16,000 $ 12,000 $ 26,000 $ 89,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement Sales Variable expenses Cost of goods sold Selling expenses Administrative expenses 0 Fixed expenses Selling expenses Administrative expenses 0