Lakeland Co sold 19,700 chairs (Lakeland's only product) In 2019. This resulted in a $59,290 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 40% by Installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $147,000. The maximum output capacity of Lakeland is 40,000 chalrs per year Sales LAKELAND COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019 $ 732,840 Variable costs 549,630 Contribution margin 183,210 Fixed costs 242,500 Net loss $ (59,290) 4. Compute the sales level required in both dollars and units to earn $170,000 of target pretax income in 2020 with the machine installed and no change in unit sales price. (Do not round Intermediate calculations. Round your answers to 2 decimal places. Round "Contribution margin ratlo" to nearest whole percentage) Sales level required in dollars Choose Numerator: Choose Denominator: = Sales Dollars Required = Sales dollars required Sales level required in units Choose Numerator: Choose Denominator: Sales Units Required = Sales units required