In 1999, GM Products, a Dutch company, opened GM Solutions B. V., a division that sells a complete range of products in the area of ground security, installation material, and mobile following vehicles. From this information, you know that GM Products has a matrix organization. t or f

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.