Many marketing students initially overlook the importance of marketing channel management because
1. marketing has no responsibility for supply chain management.
2. marketing channel management doesn't add much value for customers
3. companies do not want customers to know anything about the supply chain.
4. many of these activities take place behind the scenes.
5. marketing channel management is already transparent.

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.