Lakeland Co. sold 19,200 chairs (Lakeland's only product) in 2019. This resulted in a $43,072 loss (ignoring taxes) for the year ended. During a planning meeting for the upcoming 2020 fiscal year, Lakeland's factory supervisor estimates that variable costs can be lowered 50% by installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $142,000. The maximum output capacity of Lakeland is 40,000 chairs per year. LAKELAND COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019 Sales $ 704,640 Variable costs 563,712 Contribution margin 140,928 Fixed costs 184,000 Net loss $ (43,072) 5. Prepare a forecasted contribution margin income statement that shows the results at the sales level computed in part 4. Assume income taxes will be due. (Do not round intermediate calculations. Round "per unit answers" to 2 decimal places.) LAKELAND COMPANY recasted Contribution Margin Income Statement For Year Ended December 31, 2020 $ Per Unit $ 36.70 Contribution margin