EXERCISE 8-1 Preparing a Contribution Margin Format Income Statement [LO1 - CC1, 3, 4] Miller Company's most recent income statement follows: Total Per Unit Sales (15,000 units) $300,000 $20 Less: Variable expenses 180,000 12 Contribution margin 120,000 $ 8 Less: Fixed expenses 70.000 Net income $ 50.000 Required: Prepare a new income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 15%, and the selling price decreases by $1.00. 2. The selling price decreases by $4 per unit, and the sales volume increases by 25%. 3. The selling price increases by $1 per unit, fixed expenses increase by $20,000, and the sales volume decreases by 5%. 4. The selling price increases by 5%, variable expenses increase by $1 per unit, and the sales volume decreases by 10%