PHAN AND NGUYEN LLP Income Statement Year Ending December 31, 2020 Sales (240,000 units) Cost of goods sold Gross profit Operating expenses Selling $280,000 Administrative 150,000 Net loss $1,200,000 800,000 400,000 430,000 $ (30,000) A cost behaviour analysis indicates that 75% of the cost of goods sold is variable, 42% of the selling expenses are variable, and 40% of the administrative expenses are variable. Required: (Round to nearest unit, dollar, and percentage, where necessary. Use the CVP income statement format in calculating profits.) A. Calculate the break-even point in total sales dollars and in units for 2020. (1 Marks)