Determine the break-even point in units and in dollars. (Round "Contribution margin per unit" to 2 decimal places. Round intermediate calculations and final answers to nearest whole number.) Assume that next year's sales are budgeted to be the same as the current year's sales. Determine the margin of safety expressed as a percentage. (Round intermediate calculations to nearest whole number and final answer to 2 decimal places. (1,e,2345 should be entered as 23.45)) Use the following partially completed form to prepare an income statement using the contribution margin format. Adams Modems, Inc. makes modem cards that are used in notebook computers. The company completed the following transactions during year 1 . All purchases and sales were made with cash. 1. Acquired $760,000 of cash fron the owners. 2. Parchased $275,000 of manufacturing equipesent. The equipnent has a $31,000 lalvage value and a four-year useful 1ife. 3. The company utarted and completed 5,100 sodens. Direct materiala purchaed and ueed anounted to $41 per unit. 4. Direct labor costs asounted to $26 per usit. 5. The cost of manufacturing supplies used anounted to $ per unit. 6. The company paid $51,000 to rent the panufacturing facility. 7. Adans sold all $,100 units at a cash price of $125 per unit. 8. The sales staff vas paid a $6+50 per unit sales comission. 9. Paid $40,000 to purchase equipment for adninintrative offices. The equipent vas expected to have a $3,100 salvaqe value and a three-year useful iffe. 10. Mdmisistrative expenses conaisting of oftice rental and salaries anousted to $75,650. Required a. Use the following partially completed form to prepare an income statement using the contribution margin format. b. Determine the break-even point in units and in dollars. c. Assume that next year's sales are budgeted to be the same as the current year's sales. Determine the margin of safety expressed as a percentage