Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by...

    

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Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses Net operating income 0 Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement: Variable expenses Fixed expenses 0 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 12,000 $18 $2 $ 21,000 $ 15,000 $ 12,000 $ 24,000 $ 88,000 Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses Net operating income 0 Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement: Variable expenses Fixed expenses 0 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 12,000 $18 $2 $ 21,000 $ 15,000 $ 12,000 $ 24,000 $ 88,000

Answer rating: 100% (QA)

CHEROKEE INCORPORATED TRADITIONAL INCOME STATEMENT Sales Revenue 216000 Cost of Sale... View the full answer