11. Visit the website for a second large bank or credit card company, and learn about a similar type of credit card being offered by this company. Describe at least two differences between this credit card offer and the one from question 10 above. Which offer would you be more likely to choose? Why?

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.