Stenback Company sells flags with team logos. Stenback has fixed costs of $960,000 per year plus variable costs of $8.00 per flag. Each flag sells for $20.00 Read the requirements Requirement 1. Use the equation approach to compute the number of flags Stenback must sell each year to br First, select the formula to compute the required sales in units to break evern. Net sales revenue Fixed costs Variable costs - Target profit Rearrange the formula you determined above and compute the required number of flags to break even The number of flags stenback must selil each year to break even is 12000 Requirement 2. Use the contribution margin ratio approach to compute the dollar sales Stenback n eeds to earn $12,000 in operating income for 2018. (Round the contribution margin ratio to two decimal places.) the formula and then entering the amounts to calculate the required sales dollars to earn $12,000 in Begin by showing operating income. Round the required sales in dollars tn to the nearest whole collar For example, $10 25 would be rounded to S11. Abbreviation used: CM contribution margin.) L Fixed costs Target proft 7 CM ratio R 960000 Requirement 3. Prepare Stenback's contribution margin income statement for the year ended December 31, 2018, for sales of 76,000 flags. (Round your final answers up to the next whole number.) (Use parentheses or a minus sign for an iet ar antoran mumher in the inout flelds and then continue to the next