Olivian Company wants to earn $420,000 in net (after-tax) income next year. Its product is priced at $400 per unit. Product costs include: Variable selling expense is $16 per unit; fixed selling and administrative expense totals $255,000, Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of $420,000, 1 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. If required, round your answer to the nearest whole unit units 3. Prepare an Income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2 . Do NoT round interim calculations and, If required, round your answer to the nearest dollar. 1. Calculate the before-tax profit needed to achleve an after-tax target of $420,000. 2. Calculate the number of units that will yleld operating income calculated in Requirement 1 above. If required, round your answer to the nearest whole unit. units 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2 . Do NoT round interim calculations and, if required, round your answer to the nearest dollar. 4. What if olivian had a 35 percent tax rate? Would the units sold to reach a $420,000 target net income be higher or lower than the ianits calcuilated in Requirement 27 . Calculate the number of units needed at the new tak rate. In your calculations, round before-tax income to the nearest doliar. Round your answer to the nearest whole unit. units