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. Prepare a single-column CVP income statement based on current activity. Compute the contribution margin ratio, break-even point in sales dollars, margin of safety ratio, and degree of operating leverage based on current activity. (Round margin of sofety ratio and degree of operating leverage to 1 decimal place, eg. 2.5% or 2.5 and breakeven point in dollors to 0 decimal places, eg. 2,520.) Contribution margin ratio % Break-even point in dollars Margin of safety ratio Degree of operatingleverage Attempts: 0 of 3 used