Island Novelties, Incorporated, of Palau makes two products - Hawaian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Fixed expenses total $506,000 per yeat. Required: 1. Assuming the sales mix given obove, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. 2. The company has developed a new product called Samosn Delight that selis for $55 each and that has variable expenses of $44 per unit. If the compony can sell 10,000 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that saies of the other two products does not change. b. Compute the company's revised break-even point in dollar sales. Asso, compute its revised margin of safety in dollars and margin of safety percentage