2 Income Reporting and Breakeven Analysis 3 Selling price (P) $ 180 5 Variable Costs (VC) $ 135 5 Fixed Costs (FC) S 562,500 7 B D 1 1. Prepare a contribution margin income statement for Blanchard Company showing sales, variable costs, and fixed costs at the breakeven. Contribution Margin Income Statement (at Breakeven) For the Year ended December 31, 2020 2. What is the breakeven (in dollars if fixed costs increase by $135,000? You could use the income statement above and work backward to determine the OR add the increase to your fixed costs and divide by the CMR, OR add the 135,000 to fixed costs and divide by the CM and multiply by the sales price