Week One Quiz Saved 2 Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11 , 000 Selling price per unit $ 18 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 3 00:35:53 Total fixed selling expense $ 20,000 Total fixed administrative expense $ 14, 000 Beginning merchandise inventory $ 10,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 87,000 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. Requir