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A contribution income statement for the Nantucket Inn is shown below. (ignore income taxes) Revenue Less: Variable expenses Contribution margin Less: Fixed expenses Net Income Required: 1. Prepare a contribution income statement if the hotel's volume of activity increases by 25 percent, and fixed expenses increase by 50 percent. 2. Prepare a contribution income statement if the ratio of variable expenses to revenue doubles. There is no change in the hotel's volume of activity. Fixed expenses decline by $140,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution income statement if the hotel's volume of activity increases by 2 by 50 percent. Revenue + 8 i $1,700,000 980,000 $720,000 510,000 $ 210,000 NANTUCKET INN Contribution Income Statement - O < Prev 6 of 14 9 Р Next > 9 backs