Saved cept the new Terms and Conditions Due Today Complete science lab qizil and 1 other item Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 20,000 30 $ 4 $ 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 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. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement MacBook Air SB Due Today Complete science other item Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales $ 600,000 160,000 Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses 440,000 $ 80,000 40,000 120.000 Required 2 > MacBook Air 4