The condensed income statement for the Blossom and Paul partnership for 2020 is as follows. Blossom and Paul Company Income Statement For the Year Ended December 31, 2020 Sales (240,000 units) $ 1,200,000 Cost of goods sold 800,000 Gross profit 400,000 Operating expenses Selling $ 280,000 Administrative 156,000 436,000 Net loss $(36,000) A cost behavior analysis indicates that 75% of the cost of goods sold are variable, 42% of the selling expenses are variable, and 40% of the administrative expenses are variable. Your answer is partially correct. Blossom has proposed a plan to get the partnership "out of the red and improve its profitability. She feels that the quality of the product could be substantially improved by spending $0.30 more per unit on better raw materials. The selling price per unit could be increased to only $5.25 because of competitive pressures. Blossom estimates that sales volume will increase by 25%. Compute the net income under Blossom's proposal and the break-even point in dollars. (Round intermediate calculations to 4 decimal places, e.g. 15.2515 and final answers to 0 decimal places, e.g. 2,520.) Amount Net income $ 69000 Break-even point $ 4500000 e Textbook and Media Assistance Used e Textbook Save for Later Attempts: unlimited Submit