Part III - Contribution Income Statement HBK Enterprises sells one product, wrestling tights. Below, you will find cost information for the sale of 50,000 sets of tights last year. Each set sells for $29. Variable production costs: Tight materials $300,000 $75,000 $60,000 Wages of production workers Dyes for coloring tights Variable selling costs: Sales commissions $75,000 Fixed manufacturing costs: Insurance on factory Factory Maintenance staff $5,000 $50,000 $80,000 Depreciation on factory machines Fixed selling and administrative costs: Accounting staff salaries Executive management salaries Rent on office building $120,000 $750,000 $90,000 . Use the CH 21 tab of the template to do the following: Build a contribution format income statement using formulas to calculate totals, subtotals, and per unit amounts ( did the first line for you as an example) Use formulas with the data from the income statement to calculate the contribution margin ratio, break-even point in units, and break-even point in sales dollars (I built in a check cell that will show zero when the two break-even cells are properly aligned) Provide a formula to calculate how many sets of tights the company would need to sell to make $100,000 in before tax profit . Contribution Margin Ratio Contribution Income Statement $ 1,450,000 Per unit amounts $ 29.00 Revenue Variable Costs Tight Mat. Wages Break-Even Units Dyes Commission Contribution Margin Break-Even Sales Dollars CHECK Fixed Costs Insurance Maintenance Sal Depreciation Accounting Sal. Exec. Sal Rent Net Income Target Profit of $1,000,000