Exercise 5-1 Preparing a Contribution Format Income StatementWhirly Corporation’s most recent income statement is shown below: Total Per Unit Sales (8,100 units) $ 259,200 $ 32.00 Variable expenses 162,000 20.00 Contribution margin 97,200 $ 12.00 Fixed expenses 55,200 Net operating income $ 42,000 Required:Make a new contribution format income statement under each of the following conditions (consider each case independently):1.The sales volume increases by 40 units. 2.The sales volume decreases by 40 units. 3.The sales volume is 7,100 units.
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