Summer AC, Incorporated, purchases air conditioners from a large manufacturer for an average cost of $1,495 per unit and then sells them to retail customers for an average price of $2,000 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $942 per month $4,809 per month, plus 4% of sales $58 per piano sold $650 per month $4,903 per month $13,571 per month $685 per month $2,522 per month, plus $41 per piano sold $944 per month During August, Summer AC, Incorporated, sold and delivered 62 air conditioners. 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