4. Angelo Company developed the following information for the product it sells: Sales price per unit $120 Fixed expenses: Cost of goods sold Selling expense $1,500,000 $800,000 $500,000 Administrative expense Variable expenses: Selling expense Cost of goods sold 40% of sales price $40 per unit $8 per unit Administrative expense For the year ended December 31, 2019, the company produced and sold 200,000 units of product. Instructions: (a) Prepare a CVP income statement using the contribution margin format. (b) Compute the break-even point in units and in dollars. (c) Compute the margin of safety in dollars and margin ratio. (d) By using contribution margin ratio, determine the sales dollars required to earn net income of $3,000,000