QUESTION 12 5 points Save Answer Due to the sluggish economy, the Sea to Summit Company has experienced some difficulty in selling its tents. The following data relates to 2019: Sales (9,000 units @ $100) Less variable costs (9,000 @ $60) Contribution margin Less fixed costs Net loss $900,000 540,000 $360,000 400,000 ($40,000) Required: Refer to the original data. During 2020, Sea to Summit saved $5 per tent by buying from a different manufacturer. However, Sea to Summit's rent and insurance increased by $5600. The store sold 11,000 tents. What was its net income (loss) for the year