hapter 1- Required Connect Homework i 6 ints eBook Exercise 1-6 (Algo) Traditional and Contribution Format In Cherokee Incorporated is a merchandiser that provided the following infom 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 Amount 12,000 $ 18 $ 2 $ 1 $ 21,000 $ 14,000 $ 11,000 $ 24,000 $ 90,000 Hint References 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. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: 0 6 eBook Exercise 1-6 (Algo) Traditional and Contribution Format Income Cherokee Incorporated 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 Amount 12,000 $18 $ 2 $ 1 $ 21,000 $ 14,000 $ 11,000 $ 24,000 $ 98,000 Hint eferences 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. Required 1 Required 2 Prepare a contribution format income statement. Variable expenses: Fixed expenses: Cherokee, Incorporated Contribution Format Income Statement