Barnes Company reports the following operating results for the month of August: sales $300,000 (units 5,000); variable costs $217,000; and fixed costs $71,800. Management is considering the following independent courses of action to increase net income. Compute the net income to be earned under each alternative. 1. Increase selling price by 10% with no change in total variable costs or sales volume. Net income $Entry field with incorrect answer 2. Reduce variable costs to 56% of sales. Net income $Entry field with incorrect answer 3. Reduce fixed costs by $18,000. Net income $Entry field with incorrect answer