John Cole is evaluating a business opportunity to sell premium car wax at vintage car shows. The wax is sold in 64-ounce tubs. John can buy the premium wax at a wholesale cost of $32 per tub. He plans to sell the premium wax for $62 per tub. He estimates fixed costs such as travel costs, booth rental cost, and lodging to be $600 per car show. Read the fequirements. b. Determine the sales volume in dollars necessary to earn the desired profit assuming John wants to earn a profit of 900 per show. Begin by identifying the formula to compute the sales volume in dollars necessary to earn the desired profit. Sale price per unit Target sales in units Target sales in dollars John must achieve sales of $ 3,100 to earn a profit of $900 per show. c. Using the contribution margin format, prepare an income statement (condensed version) to confirm your answers to parts a and b. Condensed Income Statement Sales 3100 Less: Variable costs Contribution margin Less: Fixed costs Net income (loss)