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Exercises EXERCISE 8-1 Using a Contribution Margin Format Income Statement [LO1- CC1, 3, 4] Miller Company's most recent income statement follows: Total $300,000 180,000 120,000 70,000 50,000 Per Unit $16 Sales (20,000 units) Less: Variable expenses Contribution margin Less: Fixed expenses Net income S 6 Requirea: Prepare a new income statement under each of the following conditions (consider each case independently) The sales volume increases by 15%, and the selling price decreases by $1.00 2. The selling price decreases by $2.50 per unit, and the sales volume increases by 25%. 3. The selling price increases by $0.50 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 60 cents per unit, and the sales volume decreases by 10%