Question: please explain how to work this problem. my professor is no help Cherokee Incorporated is a merchandiser that provided the following information: Number of units
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 11,000 $ 18 $ 1 $ 2 $ 21,000 $ 15,000 $ 8,000 $ 25,000 $ 89,00 Required: 1. Prepare a traditional Income statement. 2. Prepare a contribution format income statement. w
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