EXERCISE 5-1 Preparing a Contribution Format Income Statement (L05-1] Whirly Corporation's most recent income statement is shown below: Sales (10,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total Per Unit $350,000 $35.00 200,000 20.00 150,000 $15.00 135,000 $ 15,000 Required Prepare a new contribution format income statement if the sales volume increases by 300 units Answer Title Total Per Unit Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Net Operating Income