E6-5 (Static) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Incorporated, 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 $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Complete the following table. Note: Round your answers to 2 decimal places. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. Note: Do not round your intermediate calculations. Round your percentage answer to 2 decimal places. (i.e. 0.1234 should be entered as 12.34%.).RoundyourUnitContributionMarginanswertotwodecimalplaces. This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company. Note: Round your intermediate calculations to 2 decimal places. This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the ompany. Note: Round your intermediate calculations to 2 decimal places. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. Note: Do not round your intermediate calculations. Round final answers to the nearest whole number. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Note: Round Unit Contribution Margin to 2 decimal places. Round your answer to the nearest whole number