! Required information [The following information applies to the questions displayed below.] Astro Company sold 24,000 units of its only product and reported income of $174,800 for the current year. During a planning session for next year's activities, the production manager notes that variable costs can be reduced 42% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $158,000. Total units sold and the selling price per unit will not change. ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales ($58 per unit). Variable costs ($39 per unit) Contribution margin Fixed costs Income $ 1,392,000 936,000 456,000 281,200 $ 174,800 2. Prepare a contribution margin income statement for next year that shows the expected results with the machine installed. Assume sales are $1,392,000. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Sales ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31 Variable costs Contribution margin Fixed costs Income $ 1,392,000 1,392,000 $ 1,392,000