hown here is an income statement in the traditional format for a firm with a sales volume of 7,700 units. Cost formulas also are shown: Revenues $ 34,400 Cost of goods sold ($5,700 + $2.10/unit) 21,870 Gross profit $ 12,530 Operating expenses: Selling ($1,180 + $0.10/unit) 1,950 Administrative ($3,650 + $0.15/unit) 4,805 Operating income $ 5,775 Required: Prepare an income statement in the contribution margin format. Calculate the contribution margin per unit and the contribution margin ratio. Calculate the firm's operating income (or loss) if the volume changed from 7,700 units to 11,550 units. 3,850 units. Refer to your answer to part a for total revenues of $34,400. Calculate the firms operating income (or loss) if unit selling price and variable expenses per unit do not change and total revenues Increase by $14,000. Decrease by $3,000.