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. Prepare a traditional income statement.Exercise $1-6($Algo$)$ Traditional and Contribution Format Income Statements $[$LO$1-6]$ Cherokee Incorporated is a merchandiser that provided the following information: 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. Prepare a contribution format income statement.