Required information {The following information applies to the questions displayed below.) Astro Co. sold 20,000 units of its only product and incurred a $50,000 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 $200,000. 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 Sales $1,000,000 Variable costs 800,000 Contribution margin 200,000 Fixed costs 250,000 Net loss $(50,000) 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. ASTRO COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2020 Contribution margin MacBook Air gos DOO 000 74 1 15 FO > 58 $ %23 3 4 % 5 6 & 7 * 00 9 ON 0