Abroker receives a deposit from a buyer with no instructions to hold the check uncashed pending the seller's acceptance of the offer. after the offer is accepted, the broker decides to put the check in a safe in the office for security purposes until the broker can get to the bank next week. the broker is: group of answer choices

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.