Requirement 1: Prepare the companys forecasted contribution margin statement for 2024.

Requirement 2: How many units must the company sell in 2024 to cover all their costs? Show the formulas and calculations used to arrive at your answers.

Requirement 3: Given the 2024 information, what is the companys anticipated margin of safety in sales units and as a percentage? Show the formulas and calculations used to arrive at your answers.

SoHo Co. produces and sells jeweled handbags to retail stores in the New York area. In 2023, the company sold 51,000 units of the handbags. Sales and costs for that level of sales are as follows: For 2024, the company expects total sales to be 70,000. Prepare a contribution margin income statement at this level. Assume no change in unit sales price or unit variable cost. (Round your figures to whole dollars)