Required information Problem 05-4A Break-even analysis; Income targeting and forecasting LO C2, P2, A1 The following information applies to the questions displayed below.) Astro Co. sold 20,600 units of its only product and incurred a $55,028 loss (ignoring taxes) for the current year, as shown here. During a planning session for year 2020's activities, the production manager notes that variable costs can be reduced 50% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $156,000. The maximum output capacity of the company is 40,000 units per year. ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019 $784,860 627,888 Contribution margin 156, 972 Fixed costs 212,000 Net loss $(55,028) Sales Variable costs 5 Problem 05-4A Part 3 3. Prepare a forecasted contribution margin income statement for 2020 that shows the expected results with the machine installed. Assume that the unit selling price and the number of units sold will not change, and no income taxes will be due. (Do not round Intermediate calculations. Round your answers to the nearest whole dollar.) ASTRO COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2020 Contribution margin