Marwick's Planos, Inc., purchases pianos from a large manufacturer for an average cost of $1,503 per unit and then sells them to retail customers for an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula 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 $957 per month $4,808 per month, plus 5t of sales $57 per piano sold $641 per month $4,917 per month $13,506 per month $715 per month $2,510 per month, plus $39 per piano sold $899 per month During August, Marwick's Pianos, Inc., sold and delivered 64 pianos. 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. Saved A Traditional Income Statement For the Month of August Sales Selling and administrative expenses: Selling expenses: 2:26 ed Print Total selling expenses Administrative expenses: erences Total administrative expenses Total selling and administrative expenses . Required Required 2 > Required 1 Required 2 Prepare a contribution format income statement for August. Show costs and revenues on both a total and a down through contribution margin. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Plano Variable expenses: 0 0 Total variable expenses Contribution margin Fixed expenses Total fixed expenses 0 (Required 1 Macl