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View previous attempt Check my work Problem 1-21 (Algo) Traditional and Contribution Format Income Statements (L01-6) Marwick's Pianos, incorporated, purchases pianos from a large manufacturer for an average cost of $1,503 per unit and then sells them to retail customers for an average price of $3,000 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising 5 969 per month Sales salaries and commissions $ 4,012 per month, plus 6 of sales Delivery of pianos to customers 5 62 per piano sold utilities $ 667 per month Depreciation of sales facilities $ 4,960 per month Administrative! Executive salaries $ 13,500 per month Insurance $ 702 per month Clerical $ 2,493 per month, plus 543 per piano sold Depreciation of office equipment $933 per month During August, Marwick's Pianos, Incorporated, sold and delivered 59 planos 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 por unit basis down through contribution margin Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for August. (A Net operating loss should be entered as a negative number)