please do requirements 1 and 2

awnser choices below

Castillo Chemical has spent $243,000 to refine 74,000 Requirements gallons of acetone, which can be sold for $2.40 a gallon 1. Identify the sunk cost. Is the sunk cost relevant to Alternatively, Castillo Chemical can process the acetone Castillo's decision? Why or why not? further. This processing will yield a total of 60,000 gallons 2. Should Castillo sell the acetone as is or process it into of lacquer thinner that can be sold for $3.20 a gallon. The lacquer thinner? Show the expected net revenue additional processing will cost $0.65 per gallon of lacquer thinner. To sell the lacquer thinner, Castillo Chemical must pay shipping of $0.20 a gallon and administrative expenses of $0.11 a gallon on the thinner. Requirement 1. Identify the sunk cost Is the sunk cost relevant to Castillo's decision? Why or why not? differ between alternatives of selling as is or The is a sunk cost that processing further. Consequently, this sunk cost of Requirement 2. Should Castillo sell the acetone as is or process it into lacquer thinner? Show the expected net revenue difference between the two alternatives. (Enter a "0" for any zero amounts. Use a minus sign or parentheses in the Difference column if the Sell As Is amount exceeds the Process Further amount.) (1) (2) (3) amount spent to refine the acetone cost of further processing (4) Sales revenue Additional processing costs to convert lacquer thinner Contribution margin Fixed expenses (5) Sales revenue Additional processing costs to convert lacquer thinner Contribution margin Fixed expenses (6) Sell acetone as is. Process further into lacquer thinner