The condensed income statement for the Elizabeth and David partnership for 2022 is as follows. Elizabeth and David Company Income Statement For the Year Ended December 31, 2020 Sales (211,200 units) $1.056,000 Cost of goods sold 704,000 Gross profit 352,000 Operating expenses Selling $264,000 Administrative 134,200 398,200 Net loss $(46,200) A cost behavior analysis indicates that 75% of the cost of goods sold are variable and 40% of the selling expenses are variable. Administrative expenses are $81,400 fixed. Your answer is correct. Compute the break-even point in total sales dollars for 2022. (Round intermediate calculations to 2 decimal places, eg. 15.25 and final answers to decimal places, eg. 2,520.) Break-even point in dollars $ 11880001 eTextbook and Media Attempts: 1 of 2 used Using multiple attempts will impact your score. 50% score reduction after attempt 1 (b) Elizabeth has proposed a plan to get the partnership out of the red" and improve its proftability. She feels that the quality of the product could be substantially improved by spending $0.32 more per unit on better raw materials. The selling price per unit could be increased to only $5.25 because of competitive pressures. Elizabeth estimates that sales volume will increase by 25%. Compute the net income under Elizabeth's proposal and the break-even point in dollars. (Round intermediate calculations to 4 decimal places, eg. 15.2515 and final answers to 2 decimal places, eg. 15.25.) Amount $ Net income Break-even point $ eTextbook and Media Save for Later Attempts: 0 of 2 used Submit