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) 2. Compute the predicted break-even point in dollar sales for 2020 assuming the machine is installed and there is no change in the unit selling price. (Round your answers to 2 decimal places.) Contribution Margin per unit Proposed Contribution Margin Ratio Choose Numerator Choose Denominator: Contribution Margin Ratio Contribution margin ratio Break-even point in dollar sales with new machine: Choose Numerator: Choose Denominator: Break Even Point in Dollars Break-even point in dollars