Fanning Company makes and sells products with variable costs of $24 each. Fanning incurs annual fixed...

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Fanning Company makes and sells products with variable costs of $24 each. Fanning incurs annual fixed costs of $346,800. The current sales price is $92. Note: The requirements of this question are interdependent. For example, the $272,000 desired profit introduced in Requirement c also applies to subsequent requirements. Likewise, the $80 sales price introduced in Requirement d applies to the subsequent requirements. e. If fixed costs drop to $290,000, what level of sales is required to earn the desired profit? Express your answer in units and dollars. Prepare an income statement using the contribution margin format. Complete this question by entering your answers in the tabs below. Req E1 Req E2 If fixed costs drop to $290,000, prepare an income statement using the contribution margin format. (Do not round intermediate calculations. Round your final answers to nearest whole number.) FANNING COMPANY Income Statement Sales Variable cost Contribution margin Fixed cost Net income Fanning Company makes and sells products with variable costs of $24 each. Fanning incurs annual fixed costs of $346,800. The current sales price is $92. Note: The requirements of this question are interdependent. For example, the $272,000 desired profit introduced in Requirement c also applies to subsequent requirements. Likewise, the $80 sales price introduced in Requirement d applies to the subsequent requirements. e. If fixed costs drop to $290,000, what level of sales is required to earn the desired profit? Express your answer in units and dollars. Prepare an income statement using the contribution margin format. Complete this question by entering your answers in the tabs below. Req E1 Req E2 If fixed costs drop to $290,000, prepare an income statement using the contribution margin format. (Do not round intermediate calculations. Round your final answers to nearest whole number.) FANNING COMPANY Income Statement Sales Variable cost Contribution margin Fixed cost Net income