Tiny Tots Daycare Centre provides daycare for children Mondays through Fridays. The business had $140,000 of net income in 2015, when 50 students were enrolled and data for variable costs per child and total fixed costs were as follows: Cost Schedule: Variable Costs: Lunch & snacks $1,000 Education Supplies 750 Other supplies (toiletries etc.) 250 $2,000 Fixed Costs: Rent $20,000 Utilities 3,000 Insurance 3,000 Salaries 30,000 Miscellaneous 4,000 $60,000 Required: Compute the charge per child, using the equation method. What is the contribution per child? What is the contribution margin ratio? Calculate Tiny Tot's break-even point in number of children and in sales dollars. Calculate the margin of safety in number of children and sales dollars. Given the expected enrolment of 50 children, prepare a contribution margin income statement for the year ended December 31, 2015, detailing the components of total fixed costs, and clearly showing contribution and operating income