Marwick's pianos, inc., purchases pianos from a large manufacturer and sells them at the retail level. the pianos cost, on the average, $1496 each from the manufacturer. marwick's pianos, inc., sells the pianos to its customers at an average price of $2900 each. the selling and administrative costs that the company incurs in a typical month are presented below: costs cost formulaselling: advertising $940 per monthsales salaries and commissions $4,824 per month, plus 3% of salesdelivery of pianos to customers $63 per piano soldutilities $664 per monthdepreciation of sales facilities $5,036 per monthadministrative: executive salaries $13,559 per monthinsurance $710 per monthclerical $2,544 per month, plus $39 per piano solddepreciation of office equipment $914 per monthduring august, marwick's pianos, inc., sold and delivered 62 pianos. required: 1. prepare an income statement for marwick's pianos, inc., for august. use the traditional format, with costs organized by function.2. prepare an income statement for marwick? s pianos, inc., for august, this time using the contribution format, with costs organized by behavior. show costs and revenues on both a total and a pair unit basis down through contribution margin.