Please provide formulas/solutions used when posting solutions to all required parts

Problem i, 15 points: Elm, Inc. had the following income statement for last period: $50,000 Sales 24,000 Cost of Sales (manufacturing) Selling and General Administrative 6.000 Net Income 20.000 Costs of sales were 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed. Required: i. Prepare a contribution format income statement in good form. 2. Calculate the contribution margin percentage. 3. Calculate the break-even sales in dollars. 4. Calculate the margin of safety. Be sure to number and properly label each part of your