M Question 11 - HW 1 - Chapter 1 - Connect * 1 - Chapter 10 Saved 11 Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [L Cherokee Incorporated is a merchandiser that provided the following information: nts Skipped 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 $1 $ 2 $ 21,000 $ 14,000 $ 11,000 $ 23,000 $ 89,000 eBook Ask Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statamant 11 Complete this question by entering your answers in the tabs below. 1.5 points Required 1 Required 2 Skipped Prepare a traditional income statement. Cherokeo, Incorporated Traditional Income Statement eBook Ask Selling and administrative expenses: References Required 2 > pped Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement ook Variable expenses: sk ences 0 Fixed expenses: 0