F G H L M N O 1. Using the Goal Seek Tool find the Net Income breakeven point fo each year in nunits for the given prices. D E 1 2 2 3 3 4 5 F&R Enterprises Inc. 6 Income Statements 7 2010 8 Total Revenue 71,887 9 Cost of Goods Sold 55,353 10 Gross Profit 16,534 11 Variable G&A 884 12 Fixed G&A 12,000 13 Fixed Depreciation 1500 14 Fixed Rent 650 15 Operating Expenses 15,034 16 EBIT 1,500 17 Interest Expense 575 18 Earnings Before Taxes 925 19 Income Tax Expense 370" 20 Income Before Minority Interest 555 21 Minority Interest 0 22 Net Income 555 23 24 25 Units Sold 3,594 26 Price 20.00 27 Tax Rate 40.0% 28 Cost of Good Sold 77.0% 29 30 Share Data 31 Basic Shares 652 32 Diluted Shares 659 33 Basic EPS 0.85 34 Diluted EPS 0.84 2011 76,926 59,233 17,693 1,411 12,000 1,500 650 15,561 2,132 600 1,532 613 919 2. Using the Goal Seek Tool find the breakeven price with an EBIT of 1500 and unit sales of 3500 for each year 2012 81,745 62,944 18,801 1,689 12,000 1,500 650 15,839 2,962 540 2,422 969 1,453 -17 1,436 13 2010 2011 2012 932 Break Even point in units Break even with EBIT = 1500 3,663 21.00 40.0% 77.0% 3,633 22.50 40.0% 77,0% 635 638 647 650 1.44 1.43 2.26 2.25