P20-38A Calculating break even sales and sales to earn a target profit; preparing a contribution margin income statement England Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There are 175 shows per year. No additional shows can be held as the theater is also used by other production companies. The average show has a cast of 65, each earning a net average of $340 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $8 per guest. Annual fixed costs total $728,000. Requirements 1 Compute revenue and variable costs for each show. 2 3. Compute the number of shows England Productions must perform each year to break even. Compute the number of shows needed each year to earn a profit of $5,687,500. Is this profit goal realistic? Give your reasoning. 4. Prepare England Productions' contribution margin income statement for 175 shows performed in 2018. Report only two categories of costs: variable and fixed