A traveling production of the Phantom of the Opera performs each year the average show sells 1.000 tickets at $45 per ticket. There are 110 shows each year the show has a cast of 60. Each earning an average of $330 per show the cast is paid only after each show. The other variable expense is program printing costs of $9 per guest. Annual fixed expenses total $243,000. Read the requirements. Compute revenue and variable expenses for each show. The revenue for each show is $ the variable expenses for each show are $ Use the income statement equation approach to compute the number of shows needed annually to breakeven. Begin by determining the basic income statement equation. = Operating income