A traveling production of the Lion King perform ach you the age show 1,000 540 chat there are 120 how each year. The show has a cast of 60 cacheaming an average of 530 per wow The cant paid only reach show The other variable mense is programming cooperated 190.000 Requirement i Compute revenue and variable expenses for each show The reach shows The vale expenses for each show Requirement 2. Use the income statement equation approach to compute the number of how needed amaly to break even Begin by determining the busincome statement auton Operating income using the basic income Matementation you determined above, tole for the number of shows to break even The number of shows neded annually to broken Requirements. Use the shorter contribution marginapproach to compute the number of shows needed annually to com a profit of $1.002.000 is the goal rive your reason Begin by selecting the formula Target of show Choose from any or enter any number in the input fields and then continue to the next question 2 Requirement 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $1,092,000 Is this poul realisti? Give your reason Begin by selecting the formula, = Target of shows Using the equation you determined above, solve for the target number of shown The number of shows needed annually to earn a profit of $1,002,000 The profit goal of $1,092,000 in nince The Lion King currenty performs 120 shows a year. Requirement 4. Prepare The Lion King's contribution maron income statement for 120 shows each year. Report only two categories of expenses variable and fixed The Lion King Contribution Margin Income Statement Year Ended December 31 Choose from any list or enter any number in the input fields and then continue to the next question Target of shows Using the equation you determined above, solve for the target number of shows The number of shows needed annually to earn a profit of $1,092,000 is The profit goal of $1,092,000 is since The Lion King currently performs 120 shows a year Requirement 4. Prepare The Lion King's contribution margin income statement for 120 shows each year. Report only two categories of expenses variable and fixed The Lion King Contribution Margin Income Statement Year Ended December 31 uri 0 Requirements - X eg ca fixed. 1. Compute revenue and variable expenses for each show. 2. Use the income statement equation approach to compute the number of shows needed annually to break even. 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $1,092,000 is this goal realistic? Give your reason. 4. Prepare The Lion King's contribution margin income statement for 120 shows each year. Report only two categories of expenses: variable and fixed. Print Done