Required information Problem 21-3A (Algo) Break-even analysis; income targeting and strategy LO C2, A1, P2 [The following information applies to the questions displayed below] Astro Company sold 27,500 units of its only product and reported income of $67,000 for the current year. During a planning session fornext year's activities, the production manager notes that variable costs can be reduced 50% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $144,000. Total units sold and the selling price per unit will not change. Problem 21-3A (Algo) Port 2 2. Prepare a contibution margin income statement for next year that shows the expected results with the machine installed. Assume sales are $1,375,000. Note: Do not round intermediate calculations. Round your onswers to the neorest whole dollor. Required information Problem 21-3A (Algo) Break-even analysis; income targeting and strategy LO C2, A1, P2 [The following information applies to the questions displayed below] Astro Company sold 27,500 units of its only product and reported income of $67,000 for the current year. During a planning session fornext year's activities, the production manager notes that variable costs can be reduced 50% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $144,000. Total units sold and the selling price per unit will not change. Problem 21-3A (Algo) Port 2 2. Prepare a contibution margin income statement for next year that shows the expected results with the machine installed. Assume sales are $1,375,000. Note: Do not round intermediate calculations. Round your onswers to the neorest whole dollor