Please complete 1-6 and extra credit! Could you please provide the formulas to calculate each one?

Problem No. 2 Purpose: To incorporate the concepts related to the Cost Behavior, Cost Profit Volume Analysis, Budgeting/Forecasting and Cash Budgeting Part 1 Sam King is an interior designer and your co-worker, she is well respected and known in the hotel design market. Sam has decided that she wants to start her own company. Her focus at first will be on selling coffee tables. Below is a summary of figures for the first three years of the business based on her research Year I Year 2 Year 3 Number of Tables 560 840 1008 Selling Price $500 $500 $500 Table Fabrication Costs $200 $200 $200 Table Shipping Costs Sales & Marketing Costs Administrative Costs S50 $50 $50 $10,000 $10,000 $20,000 $25,000 $30,000 $60,000 In order for Sam to leave her current employer and just focus on selling furniture, the projected profit the first year needs to be a minimum of $150,000 before any income taxes are deducted. She is confident that after the first year her profits should increase as the market becomes familiar with her product Sam visited a banker and business consultant and they provided her with a list of questions they would like answered before they give her further advise on opening the business. Exhibit No. 1 is the checklist Sam was provided. Required: Sam would like for you to be the accounting manager for her new company and has asked that you complete the questionnaire. Understanding the numbers is important to Sam so she would like for you to show all the formulas in the answer, this will help in understanding the figures. Please answer the questions in either Word or Excel Exhibit No. 1 Bank and Business Consultant Questionnaire 1. What will be the sales price of the tables? 2. What are the total variable costs per table? 3. What are the total fixed costs? 4. What is the breakeven point in revenue for each of the three years? 5. What is the breakeven point in units for each of the three years? 6. How many tables need to be sold each year to meet Sam's minimum desired profit? Does she meet it any of the three years? Extra Credit: 5 points Explain how the breakeven point would be calculated if Sam decided to add chairs and credenzas to her product line. A minimum of four (4) sentences is required for full credit