Pharoah Company had $176,800 of net income in 2019 when the selling price per unit was $151, the variable costs per unit were $91, and the fixed costs were $573,200. Management expects per unit data and total fixed costs to remain the same in 2020. The president of Pharoah Company is under pressure from stockholders to increase net income by $75,000 in 2020. Required:
a. Compute the number of units sold in 2019.
b. Compute the number of units that would have to be sold in 2020 to reach the stockholders' desired profit level.
c. Assume that naylor company sells the same number of units in 2020 as it did in 2019. What would the selling price have to be in order to reacch the stockholders' desired profit level?

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan