BRIEF EXERCISE 8-1 Preparing a Contribution Margin Income Statement [LO1-CC1] Simpson Inc.'s most recent income statement is shown below : Total Per Unit Sales ( 15,000 units ) $ 450,000 $ 30.00 Less : Variable expenses 300,000 20.00 Contribution margin 150,000 $ 10.00 Less : Fixed expenses 125,000 Net income $ 25,000 Required : Prepare a new income statement under each of the following conditions ( consider each case independently ) : 1. The sales volume increases by 1,000 units . 2. The sales volume decreases by 1,000 units . 3. The sales volume is 10,000 units