Please show your calculations for the following problems step by step. Points will be taken out if no step by step calculations are shown. 1. Warner Tool Company produces class rings to sell to college and high school students. These rings sell for $75 each, and cost $35 each to produce. Warner Tool Company has fixed costs of $50,000. a) Calculate Warner Tool Company's breakeven point? (10 points). b) How much profit (loss) will Warner Tool Company have if it sells 1,000 rings? 8000rings? (10 points). c) Warner Tool Company's president, Dr. John Robinson expects annual profit of $100,000. How many rings must be sold to attain this profit? (10 points). 2. Warner Tool Company President Dr. John Robinson wants to know the breakeven point in sales dollars for his company. The following is the partial Income Statement for the company: Compute the breakeven analysis in sales dollars for the company. ( 20 points)