Compute the predicted break-even point in dollar sales for 2020 assuming the machine is installed and there is no change in the it selling price. (Round your answers to 2 decimal places.) Lakeland Co. sold 20,300 chairs (Lakeland's only product) in 2019. This resulted in a $78,798 loss (ignoring taxes) for the year ended. During a planning meeting for the upcoming 2020 fiscal year, Lakeland's factory supervisor estimates that variable costs can be lowered 50% by installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $153,000. The maximum output capacity of Lakeland is 40,000 chairs per year. Compute the sales level required in both dollars and units to earn $230,000 of target pretax income in 2020 with the machine nstalled and no change in unit sales price. (Do not round intermediate calculations. Round your answers to 2 decimal places. Round "Contribution margin ratio" to nearest whole percentage) Compute the break-even point in dollar sales for 2019. (Round your answers to 2 decimal places.) \begin{tabular}{|l|r|r|r|} \hline Contribution Margin Per Unit & \multicolumn{2}{|c|}{ Current Year } & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Contribution Margin Ratio \begin{tabular}{|l|l|l|l|r|r|} \hline Choose Numerator: & 1 & Choose Denominator: & = & \multicolumn{2}{|c|}{ Contribution Margin Ratio } \\ \hline & 1 & = & Contribution margin ratio \\ \hline \end{tabular} Break-Even Point in Dollar Sales: Prepare a forecasted contribution margin income statement for 2020 that shows the expected results with the machine installed. sume that the unit selling price and the number of units sold will not change, and no income taxes will be due. (Do not round termediate calculations. Round your answers to the nearest whole dollar.)