tpx File Edit Visew Favorites Tools Help B BCIC Baruch College CUNYFest Login-CUNY H Portal Log in-Citizen CUNY B Baruchmail Student Email Lab Workstations and sells therm at the retal level. The Marwick's Plianos, Inc., purchases pianos from a large manufacturer pianos cost, on the average, $1,489 each from the manufacturer. Marwick's Plianos, Inc, sells the pianos to its customers at an average price of $2,800 each incurs in a typical month are presented below . The selling and administrative costs that the compary Cost Formula Selling $964 per month S4794 per month, plus 4% of sales $61 per piano sold $854 per month $5,018 per month Sales salaries and commissions Delivery of pianos to customens Utiities Depreciation of sales facilies Executive salaries Clerical Depreciation of office equipment $895 per month Administrative $13.474 per month $710 per month $2,451 per month, plus $45 per plano sold During August, Marwicks Planos, Inc., sold and delivered 61 pianos Required 1. Prepare an income statement for Marwick's Pianos, Inc., for August Use the traditional format. with costs organized by function. (A "Net operating loss should be entered as a negative number.) Traditional Income Statement For the Month of Seling expenses Total seling expenses Administrative expenses Total administrative expenses Total selling and administrative expenses 2 Prepare an income statement for Marwick's Pianos, Inc, for August, this tmo using the contribution format, with costs organized by behavior Show costs and revenues on both a total and a per unit basis down through coniribultion margin JA "Net operating loss" should be enitered as a negstive number