Chec 7 Required information [The following information applies to the questions displayed below.) Part 1 of 2 Hudson Company reports the following contribution margin income statement. 10 points HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (11,300 units at $175 each) Variable costs (11,300 units at $140 each) Contribution margin Fixed costs Income $ 1,977,500 1,582,000 395,500 315,000 $ 80,500 eBook Hint The marketing manager believes that increasing advertising costs by $74,000 will increase the company's sales volume to 12,700 units. Prepare a contribution margin income statement for the next year assuming the company incurs the additional advertising costs. Print lo References HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs Contribution margin Fixed costs Income/Loss $ 0 0