Thank you!!!!!

Cherokee Incorporated 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 11,000 $ 16 $ 2 $ 2 $ 20,000 $ 16,000 $ 11,000 $ 22,000 $ 88,000 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, Incorporated Traditional Income Statement Sales Cost of goods sold 176,000 77,000 99,000 Gross margin Selling and administrative expenses: Selling expenses 31,000 Administrative expenses 38,000 69,000 Net operating income Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement Sales 176,000 Variable expenses: Cost of goods sold $ 77,000 11,000 Selling expenses Administrative expenses 22,000 Beginning merchandise inventory 110,000 Contribution margin Fixed expenses: Selling expenses Administrative expenses 20,000 16,000 36,000 Ending merchandise inventory Net operating income