Ripple Company bottles and distributes Ripple Fizz, a flavoured wine beverage. The beverage is sold for $1.50 per 8-ounce bottle to retailers. Management estimates the following revenues and costs at 100% of capacity. $35,000 Net sales Direct materials Direct labour $3,000,000 Selling expenses-variable 14,000 15,000 30,000 700,000 Selling expenses-fixed 1,000,000 variable Administrative expenses- Administrative expenses Manufacturing overhead- variable Manufacturing overhead- fixed 400,000 fixed 170,000 Required: How much is net income for the year using the CVP approach? Present in CVP income statement format. a. b. Calculate the break-even point units and dollars. c. How much is the contribution margin ratio