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 (11,300 units at $175 each) Variable costs (11,300 units at $140 each) Contribution margin Fixed costs Income $ 1,977,500 1,582,000 395,500 315,800 $ 80,500 The company is considering buying a new machine that will increase its fixed costs by $37,000 per year and decrease its variable costs by $8 per unit. Prepare a contribution margin income statement for the next year assuming the company purchases this machine HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs Contribution margin Fixed costs Income/Loss $ 0 0