apter 2 HOn ents: 201870-Second Summer 2018- value 14.32 points Cherokee Inc. is a merchandiser that provided the following information 10,000 16 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 20,000 $13,000 $11,000 $ 26,000 $ 86,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC Traditional Income Statement $160,000 Selling and administrative expenses: 0 2. Prepare a contribution format income statement CHEROKEE, INC Contribution Format Income Sta