Sanchit Company had sales in 2021 of $1,470.000 on 60.000 units. Variable costs totaled $882.000, and fixed costs totaled $490.000 A new raw material is available that will decrease the unit variable costs by 20% for $2.94). However, to process the new raw material, fixed operating costs will increase by $98.000. Management feels that one half of the decline in the unit variable costs should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold. (a) Prepare a projected CVP income statement for 2022 assuming the changes have not been made. (Round per unit cost to 2 decimal places, eg, 5.25 and all other answers to decimal places, e.g. 1.225.) SANDHILL COMPANY CVP Income Statement For the Year Ended December 31, 2022 Total Per Unit Sales $ 1.470.000 $ 30 882.000 18 Variable Costs 588000 $ 12 Contribution Margin Fixed Costs 490.000 Net Income/(Loss) $ $ 98000 (b) Prepare a projected CVP income statement for 2022, assuming that changes are made as described (Round per unit cost to 2 decimal places, eg. 525 and all other answers to decimal places, eg. 1,225) SANDHILL COMPANY CVP Income Statement Total Per Unit Sales S $ Variable Costs Contribution Margin $ Total Fixed Expenses Net Income/Loss) $