FOOD TRUCKS During this time, food trucks were an emerging culinary trend in Canadaand around the world. Whilemobile concessions and canteens had existed for decades, therewas a newwave of food trucks, which focused on bringing higher-end fareto the marketplace. Theold model for food trucks often involved selling frozen or nonperishable products, whereas the new model relied on technological improvements to miniaturize and mobilizefull,gourmet kitchens,enablingvendorstooffer a much broader array ofdishes. As of 2014, Vancouver, British Columbia, had morethan 100 active food trucks selling all types of dishes, including Indian, Korean, Japanese, seafood, Mexican, barbecue, crepes, Ukrainian, and more. 2 Cat and Joe's pulled pork concept would be the first food truck attempted in the city of Kamloops. After meeting with local politicians and agreeing to some limitations', Cat \& Joe's Pig Rig was given the city's blessing to begin operating. They purchased and outfitted their truck and opened for business (Exhibit 2). 1. List and briefly describe the advantages and disadvantages inherent tothefood truck business model as compared to traditional restaurants. 2a. On a typical day in Kamloops, how many "Ripped Pig" sandwiches must be sold in order to break even? 2b. Comment on Cat and Joe's breakeven point (calculated in Part a). Should this number be relevant to the entrepreneurs? 2c. If Cat and Joe wish to make a $100,000 profit for the year (after tax), how many pulled pork sandwiches must the Pig Rig sell each day? Assume all days are in Kamloops at regular prices. 3. Preparea contribution-format incomestatement for one day's business at the Pig Rig based on optimistic, realistic, and pessimistic projections for a regular, non- event day in Kamloops. 4. Preparea contribution-format incomestatement for the Bullarama event based on an optimistic projection (no onsite competitors), a conservative projection (one onsite competitor), and a pessimistic projection (two onsite competitors). 5. What are the nonfinancial advantages and disadvantages of attending Bullarama? 6. Assume Cat and Joe were told that they should expect one onsitecompetitor. Would you recommend they stay in Kamloops for the day or goto Bullarama? Justify your answer with both financial and nonfinancial data