Wheeler Corporation€™s most recent income statement follows:

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.
2. The sales volume declines by 50 units.
3. The sales volume is 7,000units.

Transcribed Image Text:

Total Per Unit Sales (8,000 units). Variable expenses Contribution margin Fixed expenses Net operating income $208,000 $26.00 144,000 18.00 64,000 8.00 56,000 _ 8,000