Previous Which of the following statements is not true?
O a. The effect of every transaction is an increase or a decrease in one or more of the accounting equation elements (assets, liabilities, and stockholder's equity).
O b. The two sides of the accounting equation are always equal
O c. Expenses increase stockholders' equity
O d. Stockholders' equity is increased by stockholders' investments and is decreased by dividends.

Miller company’s most recent contribution format income statement is shown below: total per unit sales (20,000 units) $300,000 $15.00 variable expenses 180,000 9.00 contribution margin 120,000 $6.00 fixed expenses 70,000 net operating income $ 50,000 required: prepare a new contribution format income statement under each of the following conditions (consider each case independently): (do not round intermediate calculations. round your "per unit" answers to 2 decimal places.) 1. the number of units sold increases by 15%.