The Museum of Art is preparing for its annual appreciation dinner for contributing members. Last year, 500 members attended the dinner. Tickets for the dinner were $30 per attendee. Last year's income statement was as 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 $16,000 cost of the dinner , it was determined that $8500 was fixed costs and $7.500 was variable costs. Of the $2,500 for invitations and paperwork, $1.750 was fixed and $750 was variable Required 1. Prepare last year's profit report using the contribution margin format 2. The committee is considering expanding this year's dinner invitation to include volunteer members in addition to contbuting members). If the committee expects attendance to double, calculate the effect this will have on the profitability of the dinner - Data Table C Da $ 15,000 16,000 u Ticket sales Cost of dinner Gross margin Invitations and paperwork Profit (loss) ind (1,000) 2,500 $ $ (3,500) he Print Done Time Re e Test - Tiatr Review FRE C acer