Please see this empty income statement from Spuds and Suds for FY 2020. Please calculate the level of sales in units required to break even (EBIT=0) if price per units is 16.50. Calculate using the formula then confirm with Goal Seek. Please give your answer rounded to two decimal places. Your Answer: Answer D E tre F A B 1 Spuds and Suds 2 Income Statement 3 For the Year Ended Dec. 31, 2020 4 2020 5 Sales 6 Less: Variable Costs 7 Less: Fixed Costs 400,000 8 Earnings Before Interest and Taxes 9 Less: Interest Expense $ 50,000 10 Earnings Before Taxes 11 Taxes 12 Net Income 13 14 Less. Preferred Dividends $ 50,000 15 Net Income Available to Common 16 Common Shares Outstanding 1,000,000 17 Earnings per Share 18 19 Assumptions 20 Price per Unit 21 Unit Sales 150,000 22 Variable Costs as a Percent of Sales 65% 23 Tax Rate 20% 24 25 Operating Break-even Point (Units) 26 Operating Break-even Point (Dollars) 27 28 Units to Meet EBIT Target 29 30 31 32 33 34 35