E-Z Seats manufactures swivel seats for customized vans. It currently manufactures 11,000 seats per year, which it sells for $400 per seat. It incurs variable costs of $200 per seat and fixed costs of $1,980,000. It is considering automating the upholstery process, which is now largely manual. It estimates that if it does so, its fixed costs will be $3,076,480, and its variable costs will decline to $96 per seat. Answer the following questions. Prepare a CVP income statement based on current activity. Sales E-Z Seats CVP Income Statement $ $ Compute contribution margin ratio, break-even point in dollars, margin of safety ratio, and degree of operating leverage based on current activity. (Round margin of safety ratio and degree of operating leverage to 1 decimal place, e.g. 2.5% or 2.5 and break-even point in dollars to O decimal places, e.g. 2,520.) Contribution margin ratio Break-even point in dollars $ Margin of safety ratio Degree of operating leverage % % Prepare a CVP income statement assuming that the company invests in the automated upholstery system. E-Z Seats CVP Income Statement $ $