Cullumber Profiles provides testing services to school districts that wish to assess students' reading and mathe year Cullumber evaluated 72,000 math tests and 24,000 reading tests. An income statement for last year follow Math Testing Reading Testing Sales revenue Variable expenses Contribution margin Fixed expenses Operating income Total $1,440,000 1,008,000 $432,000 Per Unit $20 14 $6 Total $864,000 432,000 $432,000 Per Unit $36 18 $18 Total Company $2,304,000 1,440,000 864,000 432,000 $432.000 0.33/1 In an effort to raise the demand for reading tests, managers are planning to lower the price from $36 per test to $20 per test, the current price of the math test. They believe that doing so will increase the demand for reading tests to 72,000. Prepare a contribution format income statement reflecting Cullumber's new pricing and demand structure. Cullumber Profiles Contribution Income Statement Math Testing Read Total Per Unit Total Operating Income / (Loss) Contribution Margin Fixed Expenses Variable Expenses Sales