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Calculate the breakeven amount in dollars for reid rides

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Calculate the breakeven amount in dollars for Reid's Rides for the current year (do not include depreciation or taxes). How many bikes must be sold to meet the breakeven amount?

1.) Income Statement

Sales 289,545
Cost of Goods (177,775)
Contributions 111,170
Fixed Costs
Depreciation 2,000
Utilities 13,800
Insurance 2650
Vehicle Gas 1,140
Phone and Internet 3,300
Rent 24,000
Vehicle License 795
Tools 1,020
Part-time Help 7,800 (56,505)
Profit 54,665

Interest: 50,000*.065 (3,250)
51,415
Tax: 51,415 * .24 (12,339.60)
Profit after Interest and Tax 39,075.40

Reference no: EM132678472

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