Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 42,000 units of each product. Income statements for each product follow.

	Carvings	Mementos
Sales	$ 747,600	$ 747,600
Variable costs	523,320	149,520
Contribution margin	224,280	598,080
Fixed costs	108,280	482,080
Income	$ 116,000	$ 116,000

Can I get assistance in solving this with how it was solved please?

2. Assume that the company expects sales of each product to decline to 25,000 units next year with no change in unit selling price. Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products). Note: Round "per unit" answers to 2 decimal places