Cherokee Inc. 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 $ 1 $ 19,000 $ 14,000 $ 9,000 $ 26,000 $ 90,000 Required: 1. 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement 198,000 73,000 125,000 Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses Required 2 > Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement $ 198,000 73,000 Cost of goods sold 125,000 Administrative expenses Beginning merchandise inventory Cost of goods sold Direct labor Required AC sraw