EXERCISE 6-10 Using a Contribution Format Income Statement (LOI, LO4) Porter Company's most recent income statement is shown below: Total Per Unit $5.6 3.2 Sales (30,000 units).... $150.000 Less variable expenses .... 90,000 Contribution margin.... 60,000 Less fixed expenses........ 50,000 Net operating income........ $ 10,000 Required: Prepare a new income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 15%. 2. The selling price decreases by 50 cents per unit, and the sales volume increases by 20%. 3. The selling price increases by 50 cents per unit, fixed expenses increase by $10,000, and the sales volume decreases by 5%. 4. Variable expenses increase by 20 cents per unit, the selling price increases by 12%, and the sales volume decreases by 10%