! Required information [The following information applies to the questions displayed below.] 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 59,000 units of each product. Income statements for each product follow. Sales Variable costs Contribution margin Fixed costs Income Carvings Menentos $ 997,100 $ 997,100 697,978 299,138 99,710 897,390 150,130 748,390 $ 149,000 $ 149,000 2. Assume that the company expects sales of each product to decline to 42,000 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). (Round "per unit" answers to 2 decimal places.) HENNA COMPANY Contribution Margin Income Statement Carvings Mementos Total Units $ Per unit Total $ Per unit Total Sales 42,000 $ 0 $ 0 Variable cost 42,000 0 O 0 Contribution margin 42,000 Fixed costs Income (loss) $ 0 0 $ 0 ! Required information [The following information applies to the questions displayed below.] 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 59,000 units of each product. Income statements for each product follow. Sales Variable costs Contribution margin Fixed costs Income Carvings Menentos $ 997,100 $ 997,100 697,978 299,138 99,710 897,390 150,130 748,390 $ 149,000 $ 149,000 2. Assume that the company expects sales of each product to decline to 42,000 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). (Round "per unit" answers to 2 decimal places.) HENNA COMPANY Contribution Margin Income Statement Carvings Mementos Total Units $ Per unit Total $ Per unit Total Sales 42,000 $ 0 $ 0 Variable cost 42,000 0 O 0 Contribution margin 42,000 Fixed costs Income (loss) $ 0 0 $ 0