answer is also not complete

Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements (L01-6] Cherokee Inc is a merchandiser that provided the following information Number of units sold Selling price permit Variable selling expense per unit Variable adwinistrative expense permit Total Fixed selling expense Total fixed administrative pente Beginning merchandise inventory Endling merchandise inventory Merchandise purchases Anot 13,000 $ 15 $ 1 5 20,000 $15,000 3,000 $25.000 $38.000 Required: 1 Prepare a traditional income statement 2. Prepare a contribution format income statement Answer is not complete. Complete this question by entering your answers in the tabs below. 6 Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 2 Prepare a traditional income statement 5 208.000 12.000 138000 Cherokee, Inc Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses 20 000 Administrative expenses 30.000 Administrative expenses 21 000 Cost of goods sold 14 000 Net operating income > > 100 000 36000 5 Required 23 Prepare a contribution format Income statement. Cherokee, Inc. Contribution Format Income Statement $ 208,000 X Sales Variable expenses Cost of goods sold Selling expenses Administrative expenses 72,000 26,000 X 39.000 137 000 71,000 X Fixed expenses Cost of goods sold Administrative expenses 21,000 X 14.000 X 35,000 36,000 $