Cost-Volume-Profit Equation, Basic Concepts, Solving for Unknowns Required: 1. What is the break-even point in units for Elin? What is the margin of safety in units for the most recent year? 2. Prepare an income statement for Elvin's most recent year. 3. How many units must be sold tor Emin to earn a profit of $62,000 ? 4. What is the level of sales dollars needed for Elvin to earn operating income of 10% of sales? Amount Descriptions Refer to the ist below for the exact wording of text items within your income statement. Amount Descriptions Operating income Operating loss Sales revenue Total contribution margin Total flixed cost Total variable cost 1(b) What is the margin of safety in units for the most recent year? The margin of satety in units is Contribution Margin Income Statement a minus sign. a minus sign. Sales Units and Dollars 3. How many units must be sold for Ekin to earn a profit of $62,000 ? 4. What is the fevel of sales dollars needed for Elvin to eam operating income of 10% of sales