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E6-5 (Static) 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 $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 820 canoes. 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 earn $75,000 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. Complete the following table. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Complete the following table. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your percentage answer to 2 decimal places. (i.e. . 1234 should be entered as 12.34\%.)) This year Sandy Bank expects to sell 820 canoes. Prepare a contribution margin income statement for the company. (Ro your intermediate calculations to 2 decimal places.) target Complete this question by entering your answeis in the tabs below. Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Complete this question by entering your answers in the tabs below. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places. Round your answer to the nearest whole number.) E6-5 (Static) 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 $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 820 canoes. 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 earn $75,000 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