RS Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements Cherokee Incorporated is a merchandiser that provided the following information: Selling price per unit Variable selling expense per unit Number of units sold eBook Hint Ask Pont References Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Herchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement, Amount 13,000 $ 17 $ 1 $2 L $ 22,000 $ 15,000 $ 10,000 $ 24,000 $ 89,000 Complete this question by entering your answers in the tabs below