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Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 17 Variable selling expense per $ 2 unit Variable administrative expense $ 2 per unit Total fixed selling expense $19,000 Total fixed administrative $15'000 expense Beginning merchandise inventory $11,000 Ending merchandise inventory $23,000 Merchandise purchases $85,000 Requked: 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 Required 1 2