E6-6 (Algo) Identifying Break-Even Point, Analyzing How Price Changes Affect Profitability; Calculating Margin of Safety, Target Profit [LO 6-1, 6-2, 6-3, 6-4] Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Sandy Bank sells its canoes for $375 each. Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. 2. If Sandy Bank sells 700 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales price of $500 ) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit Suppose that Sandy Bank ralses its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. Note: Do not round intermediate calculations. Round your final answers to nearest whole number. If Sandy Bank sells 700 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales price of $500 ) Note: Do not round intermediate calculations. Round your answers to the nearest whole number. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit. Note: Do not round your intermediate calculations. Round your answer to the nearest whole number