The Warren Watch Company sells watches for $20, fixed costs are $120,000, and variable costs are $13 per watch.

1. What is the firm's gain or loss at sales of 7,000 watches? Enter loss (if any) as negative value. Round your answer to the nearest cent. $ What is the firm's gain or loss at sales of 20,000 watches? Enter loss (if any) as negative value. Round your answer to the nearest cent. $
3. What is the break-even point (unit sales)? Round your answer to the nearest whole number. units
5. What would happen to the break-even point if the selling price was raised to $31? -Select-The result is that the break-even point is lower. The result is that the break-even point is higher. The result is that the break-even point remains unchanged. Item 4
7. What would happen to the break-even point if the selling price was raised to $31 but variable costs rose to $26 a unit? Round your answer to the nearest whole number. -Select- 1-The result is that the break-even point increases. 2- The result is that the break-even point decreases. 3- The result is that the break-even point remains unchanged. Item 5