Cherokee Incorporated is a merchandiser that provided the following information: Amount 20,000 $ 30 $4 Number...

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Cherokee Incorporated is a merchandiser that provided the following information: Amount 20,000 $ 30 $4 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. $ 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Cherokee Incorporated is a merchandiser that provided the following information: Amount 20,000 $ 30 $4 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. $ 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000

Answer rating: 100% (QA)

Cherokee 4mc Traditional Income Statement Sales Net 2000... View the full answer