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Blossom Seats manufactures swivel seats for customized vans, It currently manufactures 10,800 seats per year, which it sells for $600 per seat. It incurs variable costs of $276 per seat and fixed costs of $2,624,400. It is considering automating the upholstery process, which is now largely manual. It estimates that if it does so, its fixed costs will be $4,147,200, and its variable costs will decline to $120 per seat. Answer the following questions. (a) Your answer is correct. Prepare a single-column CVP income statement based on current activity. Prepare a single-column CVP income statement based on current activity. Compute the contribution margin ratio, break-even point in sales dollars, margin of safety ratio, and degree of operating leverage assuming the new upholstery system is implemented. (Round answers to O decimal places, eg. 2.) Contribution margin ratio Break-even point in dollars Margin of safety ratio Degree of operating leverage Prepare a single-column CVP income statement assuming that the company invests in the automated upholstery system. Your answer is correct. Compute the contribution margin ratio, break-even point in sales dollars, margin of safety ratio, and degree of operating leverage based on current activity. (Round margin of sofety ratio to 2 decimal places, es. 2.55% or 2.55 and other answers to 0 decimal places, es. 2,520.) Contribution margin ratio \% Break-even point in dollars Margin of safety ratio \% Degree of operating leverage