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Ivanhoe Company reports the following operating results for the month of August: sales $375,000 (units 5,000), variable costs $257,000, and fixed costs $95,000. Management is considering the following independent courses of action to increase net income. 1. 2. Increase selling price by 12% with no change in total variable costs or units sold. Reduce variable costs to 61% of sales. Compute the net income to be earned under each alternative. 1. Net Income $ 2. Net Income $ Which course of action will produce the higher net income? Save for Later Attempts: 0 of 7 used Submit