Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,510 per unit and then sells them to retall customers for an average price of $3,400 each. The company's selling and administrative costs for a typical month are presented below: 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. Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) 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 through contribution margin Complete this question by entering your answers in the tabs below, Prepare a contribution format income statement for August, Show costs and revenues on both a total and a per un down through contribution margin. (A "Net operating loss" should be entered as a negative number.)