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BRIEF EXERCISE 8-1 Preparing a Contribution Margin Income Statement [L01 - CC1] Whirly Corporation's most recent income statement is shown below: Sales (12,500 units) $450,00 $36.00 0 Less: Variable expenses 250,00 20.00 0 Contribution margin 200,000 $16.00 Less: Fixed expenses 185,00 0 Net income $ 15,00 0 Required: Prepare a new income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 1,000 units. 2. The sales volume decreases by 1,000 units. 3. The sales volume is 9,250 units. Page 472 BRIEF EXERCISE 8-2 Computing and using the CM Ratio [LO1 - CC2, 3] Help Me Solve It Tutorial: Brief Exercise 8-2 Last month, when Holiday Creations, Inc. sold 50,000 units, total sales were $200,000, total variabl expenses were $120,000, and total fixed expenses were $65,000. Required: 1 What is the company'e CM ratio