Question Two: Problem Solving (1) (8 Marks) UAE Corporation, a merchandising company, reported the following results for December: Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense $4,069,800 2,351,100 $204,000 $117,700 $102,000 $267,000 Required: Prepare a contribution format income statement for December. Question Three: Problem Solving (2). (8 Marks) Digital Company makes and sells mini calculators. The variable cost of each calculator is $20. The calculators are sold for $30 each. Fixed operating expenses amount to $40,000. Required: 1. Determine the break-even point in units and sales dollars. 2. Determine the sales volume in units and dollars that is required to attain a profit of $12,000. Verify your answer by preparing an income statement using the contribution margin format. 3. Determine the margin of safety between sales required to attain a profit of $12,000 and break-even sales