Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales   $1,980,000   Selling expenses—variable   $79,000 Direct materials   500,000   Selling expenses—fixed   56,000 Direct labor   380,000   Administrative expenses—variable   27,000 Manufacturing overhead—variable   400,000   Administrative expenses—fixed   179,500 Manufacturing overhead—fixed   210,000             (A) Prepare a CVP income statement for 2020 based on management’s estimates. SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit       $enter a dollar amount  select an opening name for section one                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit         select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   $enter a dollar amount      select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   enter a dollar amount     select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   enter a dollar amount     select a closing name for section one                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit       enter a total amount for section one select a summarirzing line for the first part                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit       enter a total amount for the first part select an opening name for section two                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit         select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   enter a dollar amount     select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   enter a dollar amount     select an income statement item                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit   enter a dollar amount     select a closing name for section two                                                                       Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit       enter a total amount for section two select a closing name for this statement       $enter a total net income or loss amount  (B)Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle   $enter Variable cost per bottle in dollars rounded to 3 decimal places  (C) Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places.) (1)   Compute the break-even point   enter the break-even point in units  units (2)   Compute the break-even point   $enter the break-even point in dollars