E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break-Even Point, Target Profit (LO 6-1, 6-2) Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table 2. Suppose Sandy Bank sells its canoes for $540 each Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 850 cances Prepare a contribution margin income statement for the company, 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to eam $84.000 profit this year Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required Suppose Sandy Bank sells its canoes for $540 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your percentage answer to 2 decimal places. (L. 1234 should be entered as 12.34%.)) per Cance Unit Contribution Margin Contribution Margin Ratio E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break-Even Point, Target Profit (LO 6-1, 6-2) Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table 2. Suppose Sandy Bank sells its canoes for $540 each Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 850 cances Prepare a contribution margin income statement for the company, 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to eam $84.000 profit this year Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required Suppose Sandy Bank sells its canoes for $540 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your percentage answer to 2 decimal places. (L. 1234 should be entered as 12.34%.)) per Cance Unit Contribution Margin Contribution Margin Ratio