Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...

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Cherokee Inc. is a merchandiser that provided the following information: 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 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. $ $ $ Amount 11,000 18 2 3 $ 18,000 $ 14,000 $ 10,000 $ 26,000 $ 87,000 Cherokee Inc. is a merchandiser that provided the following information: 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 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. $ $ $ Amount 11,000 18 2 3 $ 18,000 $ 14,000 $ 10,000 $ 26,000 $ 87,000

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1 Cherokke Inc Traditional Income Statement Net Sales Number of units sold Selling price per unit 11... View the full answer