Needed: 1. Income Statement 2. Contribution format income statement

Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13, 000 Selling price per unit 17 Variable selling expense per unit LA LA ta 2 Variable administrative expense per unit N Total fixed selling expense $18, 000 Total fixed administrative expense $13,000 Beginning merchandise inventory $11,000 Ending merchandise inventory $24, 000 Merchandise purchases $89, 000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement