Please explain how you got each answer. Thank you.

Marwick's Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,501 each from the manufacturer. Marwick's Pianos, Inc., sells the pianos to its customers at an average price of $2,700 each. The selling and administrative cost that the company incurs in a typical month are presented below: Costs Selling Cost Formula Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $966 per month $4,813 per month, plus 3% of sales $60 per piano sold $641 per month $4,944 per month Administrative Executive salaries Insurance Clerical Depreciation of office equipment $13,596 per month $695 per month $2,481 per month, plus $35 per piano sold $880 per month During August, Marwick's Pianos, Inc., sold and delivered 64 pianos. Required: 1. Prepare an income statement for Marwick's Pianos, Inc., for August. Use the traditional format, with costs organized by function. (A "Net operating loss" should be entered as a negative number.)