12-3 The Heavy Metal Corporation specializes in producing a range of iron cast heavy duty blocks. The company will manufacture and sell 700,000 units next year. Fixed costs will total $250,000 while variable costs will be 75% of the sales. a. What selling price is necessary to achieve an EBIT of $500,000? b. Set up a pro forma income statement to verify your solution to part (a). c. What should be the price per unit to achieve an EBIT break- even? d. Set up a pro forma income statement to verify your solution to part (c)