Problem 3-33 Adam Granger operates a kiosk in downtown Chicago, at which he sells one style of baseball hat. He buys the hats from a supplier for $16 and sells them for $22. Adam's current breakeven point is 20,250 hats per year. Calculate contribution margin per unit. Contribution margin per unit $ LINK TO TEXT LINK TO TEXT LINK TO VIDEO What is Adam's current level of fixed costs? (Use the rounded contribution margin per unit calculated in the previous part.) Current level of fixed costs $ LINK TO TEXT LINK TO TEXT LINK TO VIDEO Assume that Adam's fixed costs, variable costs, and sales price were the same last year, when he made $28,350 in net income. How many hats did Adam sell last year, assuming a 30% income tax rate? (Use the rounded contribution margin per unit calculated in the previous part.) hats What was Adam's margin of safety last year? Margin of safety $ LINK TO TEXT LINK TO TEXT LINK TO VIDEO If Adam wants to earn $51,030 in net income, how many hats must he sell, assuming a 30% tax rate? (Use the rounded contribution margin per unit calculated in the previous part.) hats LINK TO TEXT LINK TO TEXT LINK TO VIDEO How many hats must Adam sell to break even if his supplier raises the price of the hats to $17 per hat? (Use the rounded contribution margin per unit for computation.) hats LINK TO TEXT LINK TO TEXT LINK TO VIDEO Adam has decided to increase his sales price to $23 to offset the supplier's price increase. He believes that the increase will result in a 5% reduction from last year's sales volume. What is Adam's expected net income, assuming a 30% tax rate? Net income $ Click if you would like to Show Work for this question: Open Show Work