4. Compute the sales level required in both dollars and units to earn $110,000 of target pretax income in 2020 with the machine installed and no change in unit sales price. (Do not round intermediate calculations. Round your answers to 2 decimal places. Round "Contribution margin ratio" to nearest whole percentage) 2. Compute the predicted break-even point in dollar sales for 2020 assuming the machine is installed and there is no change in the unit selling price. (Round your answers to 2 decimal places.) Required information [The following information applies to the questions displayed below.] Lakeland Co. sold 19,100 chairs (Lakeland's only product) in 2019. This resulted in a $63,282 loss (ignoring taxes) for the year ended. During a planning meeting for the upcoming 2020 fiscal year, Lakeland's factory supervisor estimates that variable costs can be lowered 50% by installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $141,000. The maximum output capacity of Lakeland is 40,000 chairs per year. Required: . Compute the break-even point in dollar sales for 2019. (Round your answers to 2 decimal places.) 5. Prepare a forecasted contribution margin income statement that shows the results at the sales level computed in part 4 . Assume no income taxes will be due. (Do not round intermediate calculations. Round "per unit answers" to 2 decimal places.) 3. Prepare a forecasted contribution margin income statement for 2020 that shows the expected results with the machine installed. Assume that the unit selling price and the number of units sold will not change, and no income taxes will be due. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.)