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 chairs per year LAKELAND COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019 Sales $ 732,840 Variable costs 549,630 Contribution margin 183,210 Fixed costs 242,500 Net loss $ (59,290) 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 $ 0.00 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