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PLEASE HELP ME. I'm not sure how to find the rest of the costs. Appreciate it so much Cherokee Incorporated is a merchandiser that provided

PLEASE HELP ME. I'm not sure how to find the rest of the costs. Appreciate it so much

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Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11, 000 Selling price per unit $ 17 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 1 Total fixed selling expense $ 21, 000 Total fixed administrative expense $ 14, 000 Beginning merchandise inventory $ 11 ,000 Ending merchandise inventory $ 24 , 000 Merchandise purchases $ 89, 000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales $ 187,000 Cost of goods sold 76,000 Gross margin V 111,000 Selling and administrative expenses: Administrative expenses 25,000 Selling expenses 43,000 68,000 Net operating income Cherokee, Incorporated ired 2 > Contribution Format Income Statement Sales $ Variable expenses: + 187,000 Cost of goods sold 76,000 Selling expenses Administrative expenses V 76,000 Contribution margin Fixed expenses: Administrative expenses 14,000 Selling expenses 21,000 35,000 Net operating income V

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