Garland Company gathered the following information for the year ended December 31, 20X7: Garland Company Income Statement Year Ended December 31, 20X7 $750,000 455,000 295,000 Sales revenue Cost of goods sold Gross margin Operating expenses Marketing expenses Administrative expenses Total operating expenses Operating income $52,000 73.000 125.000 $170.000 Total fixed manufacturing expenses amounted to $210,000. Marketing expenses were 25% variable and 75% fixed. Administrative expenses were 80% fixed and 20% variable. Assume units produced equaled units sold. a) b) Prepare a contribution margin income statement. Assuming unit sales increase 20%, calculate the new operating income