Sheffield Company had sales in 2019 of $1,716,000 on 66,000 units. Variable costs totaled $1,188,000, and fixed costs totaled $473,000 A new raw material is available that will decrease the variable costs per unit by 20% (or $3.60). However, to process the new raw material, fixed operating costs will increase by $100,000. Management feels that one-half of the decline in the variable costs per unit 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 2020, assuming the changes have not been made For the Year Ended December 31, 2020 Total Per Unit Sales S 1716000 $ 3.60 Variable Costs 1188000 66000 Contribution Margin 528000 $ 528000 Fixed Costs 473000 For the Year Ended December 31, 2020 Total Per Unit Sales $ 1677060 $ 24 20 Variable Costs 997920 69300 Contribution Margin 679140 $ 679140 Fixed Costs 573000 Net Income/(Loss) $ 106140