070-9 Uller Company's most recent contribution margin format income statement follows: Total $300,000 180,000 120,000 70,000 $ 50,000 Per Unit $15.00 9.00 $ 6.00 Sales (20,000 units) Less: Variable expenses Contribution margin Less: Fixed expenses Profit Management is considering the following independent action to increase profit: 1. Increase selling price by 15% with no change in total variable costs. 2. Reduce variable costs to 50% of sales. 3. Reduce fixed costs by $20,000. Instructions Calculate the profit to be earned under each alternative. Which action will produce the highest profit