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Tanek Corp. ' s sales slumped badly in 2 0 2 0 . For the first time in its history, it operated at a loss.

Tanek Corp.'s sales slumped badly in 2020. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 500,000 units of product: sales $2,500,000, total costs and expenses $2,600,000, and net loss $100,000. Costs and expenses consisted of the amounts shown below.
\table[[,Total,Variable,Fixed],[Cost of goods sold,$2,140,000,$1,590,000,$550,000
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