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 TotalPer Unit $297,500 $35.00 153,000 18.00 144,500 $17.00 Contribution margin Fixed expenses 54,800 Net operating income $ 89,700 Required Prepare a new contribution format income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 50 units. Whirly Corporation Contribution Income Statement Total Per Unit Sales expenses Contribution margin xed expenses t operating income