Wheeler Corporation’s most recent income statement follows:

Exercise 5-1 Preparing a Contribution Format Income Statement [LO1]

Wheeler Corporation’s most recent income statement follows:

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

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. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Contribution Income Statement
	Total
Sales	$ 209,300
Variable expenses	144,900
Contribution margin	64,400
Fixed expenses	56,000
Net operating income (loss)	$ 8,400

2.	The sales volume declines by 50 units. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Contribution Income Statement
	Total
Sales	$ 206,700
Variable expenses	143,100
Contribution margin	63,600
Fixed expenses	56,000
Net operating income (loss)	$ 7,600

3.	The sales volume is 7,000 units. (Input all amounts as positive values except losses which should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Contribution Income Statement
	Total
Sales	$ 182,000
Variable expenses	126,000
Contribution margin	56,000
Fixed expenses	56,000
Net operating income (loss)	$ 0