[The following information applies to the questions displayed below.] Lakeland Co. sold 19,700 chairs (Lakeland's only product) in 2019. This resulted in a $59,290 loss (ignoring taxes) for the year ended. During a planning meeting for the upcoming 2020 fiscal year, Lakeland's factory supervisor estimates that variable costs can be lowered 40% by installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $147,000. The maximum output capacity of Lakeland is 40,000 chairs per year. Prepare a forecasted contribution margin income statement that shows the results at the sales level computed in part 4 . Assume no come taxes will be due. (Do not round intermediate calculations. Round "per unit answers" to 2 decimal places.) 4. Compute the sales level required in both dollars and units to earn $170,000 of target pretax income in 2020 with the machine installed and no change in unit sales price. (Do not round intermediate calculations. Round your answers to 2 decimal places. Round "Contribution margin ratio" to nearest whole percentage)