If the demand curve for tickets to a taping of a television show intersects the supply curve for tickets to that show at a negative price, then in order to put that market in equilibrium the producers would need to pay people to view the show being taped. Group of answer choices True False

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.