Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,950,000 Selling expenses-variable $171,000 Direct materials 470,000 Selling expenses-fixed 59,000 Direct labor 340,000 Administrative expenses-variable 24,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 120,500 Manufacturing overhead-fixed 230,000 Prepare a CVP income statement for 2020 based on management's estimates. IVANHOE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 $ $ V $Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ Compute the break-even point in (1) units and (2) dollars. (Round answers to O decimal places, e.g. 1,225.) (1) Compute the break-even point units (2) Compute the break-even point $ Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 25%.) Contribution margin ratio % Margin of safety ratio % Determine the sales dollars required to earn net income of $210,000. (Round answer to O decimal places, e.g. 1,225.) Required sales dollars $