The Museum of America is preparing for its annual appreciation dinner for contributing members. Last year, 550 members attended the dinner. Tickets for the dinner were $30 per attendee. The profit report for last year's dinner follows. (Click the icon to view the profit report.) This year the dinner committee does not want to lose money on the dinner. To help achieve its goal, the committee analyzed last year's costs. Of the $16,900 cost of the dinner, $7,000 were fixed costs and $9,900 were variable costs. Of the $3,000 cost of invitations and paperwork, $2,175 were fixed and $825 were variable. Read the requirements. Data table Requirement 1. Prepare last year's profit report using the contribution margin format. (Use parentheses or a minus sign when entering losses.) Ticket sales Ticket sales $ 16,500 16,900 Variable cost of dinner Cost of dinner Gross margin (400) 3,000 Variable invitations and paperwork Contribution margin Invitations and paperwork Profit (loss) (3,400) Fixed cost of dinner Fixed invitations and paperwork Profit (loss) Requirement 2. The committee is considering expanding this year's dinner invitation list to include volunteer members (in addition to contributing members) attendance to double. Calculate the effect this will have on the profitability of the dinner assuming fixed costs will be the same as last year. (Use parentheses If the museum expands the dinner invitation list, the profit (loss) will be Requirements 1. 2. Prepare last year's profit report using the contribution margin format. The committee is considering expanding this year's dinner invitation list to include volunteer members (in addition to contributing members). If the committee expands the dinner invitation list, it expects attendance to double. Calculate the effect this will have on the profitability of the dinner assuming fixed costs will be the same as last year. Print Done