3 Kincaid Company sells fings with team logos, Kincaid has fixed costs of $480,000 per your plus variable costs of $8.00 per flag, Ench flag solls for $10.00 Read the requirements Requirement 1. Use the equation approach to compute the number of fluge Kincaid must sel each year to break even First , select the formula to compute the required sales in units to break even. Target profit Rearrange the formula you determined above and compute the required number of flags to break even. The number of flags Kincaid must selleach year to break even in Requirement 2. Use the contribution margin ratio approach to compute the dollar sales Kincaid needs to eam 520,000 in operating income for the year. (Round the contribution margin ratio to two decimal places) Begin by showing the formula and then entering the amounts to calculate the required sales dollars to com $20,000 in operating income. (Round the required sales in dollars up to the nearent whole dotar For example, 510.25 would be rounded to $11. Abbreviation uted: CM contribution margin) Required sales in dollars Requirement 3. Prepare Kincaid's contribution margin income statement for the year ended December 31, for sales of 115.000 fage(Round your firal answers up to the next whole number.) (Use parentheses or a minus sign for an operating loss.) Kincaid Company Contribution Margin Income Statement Year Ended December 31, 20XX Operating Income (Los) Requirement 4. The company is considering an expansion that will increase foxed costs by 30% and variable costs by $1.00 per flag Compute the new breakeven point in units and in dollars. Should Kincaid undertake the expansion? Give your reasoning (Round your final answers up to the next whole number:) (Use the equation approach) Begin by selecting the formula to compute the required sales in units to break even under the expansion plan. Target profit Rearrange the formula you determined above and compute the required number of fage to broak even under the expansion pian. Under the expansion plan, the breakeven point in units would be Tags Under the expansion plan, the breakoven point in dollars would be Should Kinenid undertake the expansion? Give your reasoning, Kincaid should only undertake the expansion if expected profits from the expansion the expected costs Choose from any list or enter any number in the input fields and then continue to the next