A traveling production of The Little Mermaid performs each year. The average show sells 1,100 tickets at $65 a ticket. There are 110 shows each year. The show has a cast of 50, each earning an average of $350 per show. The cast is paid only after each show. The other variable expense is program printing costs of $5 per guest. Annual fixed expenses total $873,000. Read the requirements. Requirements X- 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 $3,783,000 Is this goal realistic? Give your reason. 4. Prepare The Little Mermaid's contribution margin income statement for 110 shows each year. Report only two categories of expenses: variable and fixed. ed annually to break even. = Operating income Begin by selecting the formula. Print Done breakeven. needed annually to earn a profit of $3,783,000 Is this goal