This assignment must be completed in APA FORMAT. NO PLAGIARISM! This MUST be submitted to me by Saturday September 5, 2020 at 11:30am (CENTRAL TIME). THIS MUST BE SUBMITTED ON TIME! NO EXCEPTIONS!

You must show your work if the question requires a numerical answer as well as provide an explanation of your process and an analysis of the results and what the numbers mean. At least three scholarly sources need to be utilized across the entire Complete assignment.

1. Case Summary

Your boss read a recent magazine article about income statements, but he was unclear about the differences between a traditional income statement and a contribution margin income statement. Explain the difference by: a) presenting a sample format for each statement, b) describing the focus of each statement, and c) discussing how and by whom each statement is used.

Case Analysis

2. Lowman Inc. sells a product with a sales price of $25 per unit, variable costs of $10 per unit, and total fixed costs of $100,000. Lowman is looking into implementing an aggressive advertising campaign that will cost $45,000.

By what amount do sales dollars need to at least increase by in order for the company’s overall profits to not decrease by having the advertising campaign?

In 400 words: Discuss and describe the primary difference between traditional income statements and contribution margin income statements.

Discuss and describe the formula for computing the break-even point in sales dollars and units.