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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 $ 15 $ 2 $ 1 $ 19,000 $ 15,000 $ 11,000 $ 24,000 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses Cherokee, Inc. Traditional Income Statement Selling and administrative expenses. 0 Required 1 Required 2 Prepare a contribution format income statement. RENN Cherokee, Inc. Contribution Format Income Statement HULI Variable expenses. 0 Fixed expenses Cherokee Inc. is a merchandiser that provided the following inform 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 $ 15 $ 2 $ 1 $ 19,000 $ 15,000 $ 11,000 $ 24,900 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs bel Required 1 Required 2

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