C$.$L$.$ Barnes and Company, a manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past $5$ years. However, increased competition has led Mr$.$ Barnes, the president, to believe that an aggressive marketing campaign will be necessary next year to maintain the company's present growth. To prepare for next year's marketing campaign, the company's controller has prepared and presented Mr$.$ Barnes with the following data for the current year, $2020$:

$($Click the icon to view the data.$)$

Read the requirements.

Requirement $1.$ What is the projected net income for $2020?$

Using the equation method, select the basic formula used to compute the target net income for $2020.$

$$

$$ Variable costs

Fixed costs $=$

$$

$$

The target net income for $2020$ is

Requirement $2.$ What is the breakeven point in units for $2020?$

Determine the formula that is used to compute how many bowls are needed to break even, then compute the number of bowls needed. $($Enter applicable values to the nearest cent, $$x.xx.)$

$$ Fixed costs

$$

$$ Contribution margin per bowl

$=$

Bowls needed to break even

$q,$

$170500$

$$

$$

Requirement $3.$ Mr$.$ Barnes has set the revenue target for $2021$ at a level of $$728,500($or $23,500$ bowls$).$ He believes an additional marketing cost of $$52,700$ for advertising in $2021,$ with all other costs remaining constant, will be necessary to attain the revenue target. What is the net income for $2021$ if the additional $$52,700$ is spent and the revenue target is met?

The target net income for $2021$ is $$

Requirement $4.$ What is the breakeven point in revenues for$-2021$ if the additional $$52,700$ is spent for advertising? $($Do not round any of your calculations.$)$

The breakeven point in revenues for $2021$ is