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Business, 26.04.2021 21:00 DnakMeme6e7272727272

A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Revenue $ 2,350,000 Less: Variable expenses 1,240,000 Contribution margin $ 1,110,000 Less: Fixed expenses 705,000 Net income $ 405,000 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 $270,000.

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A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Revenue...

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