Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.

Required:

This year Sandy Bank expects to sell $760$ canoes for $$590$ each. Prepare a contribution margin income statement for the company.

Calculate Sandy Bank's break$-$even point in units and in sales dollars. Sandy Bank sells its canoes for $$590$ each.

Suppose Sandy Bank wants to earn $$76,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$590$ each.

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This year Sandy Bank expects to sell $760$ canoes for $$590$ each. Prepare a contribution margin income statement for the company.

Note: Round your intermediate calculations to $2$ decimal places.