Page of 3 ZOOM Example question 2 Garner Stores, Inc. is a multiple-store chain retailer of women's clothing. You are provided with the following budgeted income statement for the coming year. $36,000 Budgeted Income Statement For the Year Ending June 30, 2020 (in thousands) Sales Cost of goods sold Variable $10,800 Fixed 3,250 Gross profit Selling and administrative costs Commissions $7,200 Fixed advertising cost 3.400 Fixed marketing salaries 500 Fixed administrative cost 6,500 Operating income $21,950 $4,350 Required: 1. Determine the breakeven revenue for 2020. 2. What is the required sales dollars if desired profit is to increase by 10% over the budgeted operating income