Required 1 Required 2 Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company. Note: Round your intermediate calculations to 2 decimal places. SANDY BANK, INCORPORATED Contribution Margin Income Statement For the Current Year Contribution Margin Income from Operations Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $81,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. Note: Do not round your intermediate calculations. Round final answers to the nearest whole number. Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $81,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Note: Round Unit Contribution Margin to 2 decimal places. Round your answer to the nearest whole number. Target Sales Units Canoes