Exercise 5-1 Preparing a Contribution Format Income Statement [LO5-1] Whirly Corporation's most recent income statement is shown below Sales (8,500 units) Variable expenses Total Per Unit 289,000 34.00 19.00 161,500 127,500 $15.00 Contribution margin Fixed expenses 55,700 Net operating income $71,800 Required Prepare a new contribution format income statement under each of the following conditions (consider each case independently) 1. The sales volume increases by 40 units Whirly Corporation Contribution Income Statement Total Per Unit Sales ariable expenses Contribution margin 0 ixed expenses et operating income 0