PPM Enterprises Paul Workest is concerned about his company's ability to continue operating. For several quarters he has noticed decline in profitability. The income statement for the company for the year ended December 31, 2020 is shown below: PPM Enterprises Income Statement For the year ended December 31, 2020 Cost of Goods Sold 1,750,000 $ 2,500,000 750,000 Sales (500,000 units) Gross Profit Operating Expenses Selling Administrative Net Income (Loss) $ 525,000 281,750 806,750 S (56.750) Further inquiry reveals the following: 1. 70% of the cost of goods sold are variable, 2. 45% of the selling expenses are variable, and 3. 50% of the administrative expenses are variable 4 Breakeven in total sales dollars has not been determined 5. Breakeven in units has not been determined You are to Mr. Workest has contacted you as a consultant to assist him in developing a couple of plans that will result in Net Income. Specifically, you are being asked to propose one plan that might improve the company's profitability. provide as much detail as possible, show all computations, and prove your plan by presenting the projected Income Statement based on your plan. Present your information to Mr. Workest in a letter, along with any attachments you might have