P22-3B Bahama Sunset sails a schooner from Nassau, Bahamas. The average cruise has 80 tourists on board. Each person pays $85 for a day's sail in the Atlantic. The ship sails 100 days each year The schooner has a crew of 12. Each crew member earns an average of $105 per cruise. The crew is paid only when the ship sails. Other variable expenses are for refreshments. which average $18 per passenger per cruise. Annual fixed expenses total $184,500. Required 1. Compute revenue and variable expenses for each cruise. 2. Use the income statement equation approach to compute the number of cruises needed annually to break even. 3. Use the contribution margin approach to compute the number of cruises needed annu- ally to earn $196.800. Is this profit goal realistic? Give your reason. 4. Prepare Bahama's contribution margin income statement for 100 cruises each year. Report only two categories of expenses: variable and fixed.