prepare a cvp income statement for each companies. assuming sales revenue increases 20% due to an increase in sales quantity.

Assuming that sales revenue increases by 20% due to an increase in sales quantity, prepare a CVP income statement for each company (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (453) Pharoah Company Sheridan Company $ $ The following single-column CVP income statements are available for Pharoah Company and Sheridan Company Sales Variable costs Contribution margin Fixed costs Pharoah Company Sheridan Company 5560,000 $ 560,000 336,000 201.600 224,000 358,400 190,400 302400 Net income $33.600 $ 56,000