Question: Prepare a traditional format income statement for August. Note: A Net operating loss should be entered as a negative number. Prepare a contribution format income

 Prepare a traditional format income statement for August. Note: A "Netoperating loss" should be entered as a negative number. Prepare a contributionformat income statement for August. Show costs and revenues on both a

Prepare a traditional format income statement for August. Note: A "Net operating loss" should be entered as a negative number. 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. Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,500 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: During August, Marwick's Pianos, Incorporated, sold and delivered 63 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

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