Sheridan Seats manufactures swivel seats for customized vans. It currently manufactures 10,300 seats per year, which it sells for $500 per seat. It incurs variable costs of $210 per seat and fixed costs of $2,240,250. It is considering automating the upholstery process, which is now largely manual. It estimates that if it does so, its fixed costs will be $3,131,200, and its variable costs will decline to $120 perseat. Answer the following questions. (a) Prepare a single-column CVP income statement based on current activity