Tortillas costs $4.00 per 20 count bag: meat cost $3.00 per lb. rice cost $14 for a 25 lb bag: Refried beans cost $3.60 for a 64 oz can.; cheese cost $15.00 per 5-1b. package; salsa costs $2.80 for a 40 oz. jar. Club members will make the burritos and staff the stand on a volunteer basis. The university requires each vendor to pay a one-time $25.00 permit fee. You also need to purchase a canopy for $150, a small grill for $400 and other supplies for $100. Your club plans to donate the profits from the burrito sales to a local children's hospital. 1. How many burritos can you anticipate selling assuming that 10% of the attendees will buy a burrito? 2. What quantity of each raw material do you need to buy? 3. Calculate your Cost of Goods per burrito (COGS) 4. Anticipate selling each burrito for $8.00. Create and show a properly formatted basic Income Statement/P & L. WHAT IS YOUR NET PROFIT MARGIN as a percentage? 5. Calculate your Break- Even point based on your expenses required for the event? Be sure to write the formula and show your calculations