Kincaid Company sella flags with team logos. Kincaid has fixed costs $500,000 per year plus variable costs of S5.00 per flag. Each flag sells for S10.00 Read the requirements. Requirement 1. Use the equation approach to compute the number of flags Kincaid must sell each year to break even. First select the formula to oompute the required sales in units to break even Target profit Rearrange the formula you detemined above and oompute the required number of fags to break even The number of flags Kincaid must sell each year to break even is Requirement 2. Use the contribution margin ratio approach to compute the dollar sales Kincaid needs to eam $10,000 in operating income for 2018. (Round the contribution margin ratio to two decimal places.) calculate the reguired sales dollars to earn $10.000 in operating income, (Rournd the required sales in dollars uo to the nearest whole dollar, For example, S10.25 would be rounded to $11. Begin by showing the formula and then enlering the armounts Abbreviation used: CM contribution margin. Required sales in dollars Requirement 3. Prepare Kincaid's contribution margin income statement for e year ended December 31, 2018, for sales of 96,000 flags. (Round your final answers up to the next whole number) (Use parentheses or a minus sign for an operating loss.) Kincaid Company Contribution Margin Income Statement Year Ended December 31, 2018 Operating Income (Loss) Requirement 4. The company is considering an expansion that will increase fixed costs by 30 % and variable costs by $1.00 per flag, Compute the new breakeven point in units and in dollars. Should Kincaid undertake the expansion? Give your reasoning. (Round your final answers up to the next whole number.) (Use the equation approach.) Begin by selecting the formula to compute the required sales in units to break even under the expansion plan. Target profit Rearrange the formula you determined above and oompute the required number of flags to break even urider the expansion plan. flags Under the expansion plan, the breakeven point in units would be Under the expansion plan, the breakeven point in dollars would be $ Should Kincaid undertake the expansion? Give your reasoning. the expected costs Kincaid should only undertake the expansion if expected profits from the expansion Choose from any list or enter any number in the input fields and then continue to the next