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Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit 17 Variable selling expense per unit 1 Variable administrative expense per unit 2 Total fixed selling expense S 18,000 Total fixed administrative expense S 16,000 Beginning merchandise inventory S 11, 000 Ending merchandise inventory $ 26,000 Merchandise purchases $ 90,000 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 Selling and administrative expenses:Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: Fixed expenses