Maple Grove Orchards is reviewing its pricing for fresh-squeezed cherry juice in half-gallon containers. The variable costs per container are $1.70. Based on a market study, the management has determined that the price per half-gallon should be between $2.70 and $3.20. From past experience, they know demand is price-sensitive. Considering prices in increments of 5 cents, what price should Maple Grove choose to maximize contribution margin? Prepare the retained earnings statement reflecting this decision.

Price per Half Gallon	Estimated Demand (Half-Gallon Units)
$2.70	90,000
$2.75	87,000
$2.80	84,000
$2.85	81,000
$2.90	78,000
$2.95	75,000
$3.00	72,000
$3.05	69,000
$3.10	66,000
$3.15	63,000
$3.20	60,000