Betty's Design Projected Income Statement As of December 31, 2022 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed Variable Administrative Expenses: Fixed Variable Total Selling and Administrative Expenses Net Profit @ $45.00 @ \$28.93 \begin{tabular}{|c|c|c|c|c|} \hline (Commission per unit) & @ \$3.15 & \begin{tabular}{l} 23,000.00 \\ 78,750.00 \\ \end{tabular} & 101,750.00 & \\ \hline & \multirow[t]{2}{*}{ @ \$0.06 } & \begin{tabular}{r} 42,000.00 \\ 1,500.00 \\ \end{tabular} & 43,500.00 & 45,250.00 \\ \hline & & & & 256,500.00 \\ \hline \end{tabular} Betty's Design Projected Balance Sheet As of December 31, 2022 Current Assets Cash Accounts Receivable Inventory Raw Material \begin{tabular}{lc} Figurines & \\ Electrical Sets & 500@$9.20 \\ Work in Process & 500@$1.25 \\ Finished Goods & 0 \\ Total Current Assets & 3000@$28.93 \end{tabular} Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholders Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $34,710.0067,500.00 4,600.00625.0086,790.00194,225.00 $207,425.0013,200.00 \begin{tabular}{ll} $ & 54,000.00 \\ $ & 54,000.00 \end{tabular} $153,425.00207,425.00 (Round to seven places, % is two of those places x.xxx% ) 2. For 2023 , the selling price per lamp will be $45.00. How many lamps must be sold to breakeven? 3. For 2023 , the selling price per lamp will be $45.00. The desired operating income in 2023 is $276,500. What would sales in units have to be in 2023 to reach the profit goal? {5.04} 4. For 2023 , the selling price per lamp will be $45.00. The company would like to have an operating income equal to 26% of sales. If that is to be achieved, what would be the sales in units in 2023 ? {5.05} 5. For 2023 , if the company believes that it could only sell 25,000 lamps, what would the new selling price have to be so that the new contribution margin per unit is equal to last year's contribution margin per unit? {5.06} 6. For 2023 , the selling price per lamp will be $45.00. How many units must be sold to generate a net income (after tax) of $264,000 assuming the tax rate of 40% ? (Round up to zero places XXX,XXX units) 7. For 2023 , if the company believes that the demand will be 27,500 units for the year. What selling price per lamp, rounded to two places, would generate an operating income of $824,500 ? Betty's Design Projected Income Statement As of December 31, 2022 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed Variable Administrative Expenses: Fixed Variable Total Selling and Administrative Expenses Net Profit @ $45.00 @ \$28.93 \begin{tabular}{|c|c|c|c|c|} \hline (Commission per unit) & @ \$3.15 & \begin{tabular}{l} 23,000.00 \\ 78,750.00 \\ \end{tabular} & 101,750.00 & \\ \hline & \multirow[t]{2}{*}{ @ \$0.06 } & \begin{tabular}{r} 42,000.00 \\ 1,500.00 \\ \end{tabular} & 43,500.00 & 45,250.00 \\ \hline & & & & 256,500.00 \\ \hline \end{tabular} Betty's Design Projected Balance Sheet As of December 31, 2022 Current Assets Cash Accounts Receivable Inventory Raw Material \begin{tabular}{lc} Figurines & \\ Electrical Sets & 500@$9.20 \\ Work in Process & 500@$1.25 \\ Finished Goods & 0 \\ Total Current Assets & 3000@$28.93 \end{tabular} Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholders Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $34,710.0067,500.00 4,600.00625.0086,790.00194,225.00 $207,425.0013,200.00 \begin{tabular}{ll} $ & 54,000.00 \\ $ & 54,000.00 \end{tabular} $153,425.00207,425.00 (Round to seven places, % is two of those places x.xxx% ) 2. For 2023 , the selling price per lamp will be $45.00. How many lamps must be sold to breakeven? 3. For 2023 , the selling price per lamp will be $45.00. The desired operating income in 2023 is $276,500. What would sales in units have to be in 2023 to reach the profit goal? {5.04} 4. For 2023 , the selling price per lamp will be $45.00. The company would like to have an operating income equal to 26% of sales. If that is to be achieved, what would be the sales in units in 2023 ? {5.05} 5. For 2023 , if the company believes that it could only sell 25,000 lamps, what would the new selling price have to be so that the new contribution margin per unit is equal to last year's contribution margin per unit? {5.06} 6. For 2023 , the selling price per lamp will be $45.00. How many units must be sold to generate a net income (after tax) of $264,000 assuming the tax rate of 40% ? (Round up to zero places XXX,XXX units) 7. For 2023 , if the company believes that the demand will be 27,500 units for the year. What selling price per lamp, rounded to two places, would generate an operating income of $824,500