(Solved): Complete this question by entering your answers in the tabs below. Prepare a traditional format i ...

Complete this question by entering your answers in the tabs below. Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) "Fed text indicates no respanse was expected in a cell ar a formula-based calculation is incorrect; no points deducted. Complete this question by entering your answers in the tabs below. 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. (A "Net operating loss" should be entered as a negative number.) "Feed text indicates no respanse was erpected in a cell ar a formula-based calculation is incorrect; no points deducted. Problem 1-21 (Algo) Traditlonal and Contrlbution Format Income Statements [LO1-6] Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $\$1,517$ per unit and then sells them to retail customers for an average price of $\$3,400$ each. The company's selling and administrative costs for a typical month are presented below: During August, Marwick's Pianos, Incorporated, sold and delivered 57 pianos. Requlred: 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.