Required information [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (10,700 units at $300 each) Variable costs (10,700 units at $240 each) Contribution margin Fixed costs Income $ 3,210,000 2,568,000 642,000 504,000 $ 138,000 The marketing manager believes that increasing advertising costs by $98,000 will increase the company's sales volume to 12,100 units. Prepare a contribution margin income statement for the next year assuming the company incurs the additional advertising costs. Sales HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31. Variable costs Contribution margin Fixed costs Income/Loss