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10 Check my work 17 Problem 1-21 Traditional and Contribution Format Income Statements [L01-6) Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,482 per unit and then sells them to retail customers for an average price of $3.200 each. The company's selling and administrative costs for a typical month are presented below ints Print Sellings teferences Advertising Sales salaries and commissions $939 per month $4,773 per month, plus 6% of sales $58 per piano sold $636 per month $4.960 per month Delivery of pianos to custoners Ueilities Depreciation of sales facilities Administrative Executive salaries Insurance clerical Depreciation dt oftice equipment $13,404 per month $686 per month $2,491 per month, plus $41 per piano sold 874 per month During August, Marwick's Pianos, Inc., sold and delivered 55 pianos. Required: 1. Prepare a traditional format income statement for August 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. Complete this question by entering your answers in the tabs below