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Astro Company sold $29,500$ units of its only product and reported income of

$$234,000$ for the current year. During a planning session for next 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 $$180,000.$ Total

units sold and the selling price per unit will not change.

Prepare a contribution margin income statement for next year that shows the expected

results with the machine installed. Assume sales are $$1,770,000.$

Note: Do not round intermediate calculations. Round your answers to the nearest whole

dollar.