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Cherokee Inc

Accounting

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Cherokee Inc. is a merchandiser that provided the following information: 
Amount Number of units sold 20,000 Selling price per unit 30 Variable selling expense per unit 4 Variable administrative expense per unit 2 Total fixed selling expense $ 40,000 Total fixed administrative expense $ 30,000 Beginning merchandise inventory $ 24,000 Ending merchandise inventory $ 44,000 Merchandise purchases $180,000 
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 
Prepare a contribution format income statement. 
Cherokee, Inc. 
Contribution Format Income Statement 
Variable expenses: 
Fixed expenses: 
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