Best Corporation has provided the following contribution format Income statement. Assume that the following Information is within the relevant range. Sales (3,800 units) Variable expenses Contribution margin Fixed expenses Net operating income $120,000 90,000 30,000 21,000 $ 9,600 If sales decline to 2,900 units, the new net operating income would be closest to Multiple Choice $1.000 $29,000 $8.000 $8.700 Kitsap Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range Sales (3,000 units) Variable expenses Contribution margin Fixed expenses Net operating income $180,000 108,000 72,000 62,400 $ 9,600 The contribution margin ratio is closest to Multiple Choice 67% O 60% 40N