Baldwin has negotiated a new labor contract for the next round that will affect the cost for their product Bolt. Labor costs will go from $3. 57 to $4. 07 per unit. In addition, their material costs have fallen from $6. 80 to $5. 80. Assume all period costs as reported on Baldwin's Income Statement remain the same. If Baldwin were to pass on half the new costs of labor and half the savings in materials to customers by adjusting the price of their product, how many units of product Bolt would need to be sold next round to break even on the product?

An income statement is a list of all the money coming into the business compared to all the money leaving the business through expenses; it is essentially a profit and loss statement. Investors are interested in a company's ability to make more money than it spends, and an income statement provides this information clearly and concisely.

Revenue is the amount of money that comes into the business. Expenses are sums of money paid out by a business. The income statement allows for a direct comparison of a company's revenue and expenses, resulting in a net income or loss, and thus the company's profitability.

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