Current assets Cash$ 5,000 Marketable securities $ 15,000 Accounts receivable$ 38,000 Less Allowance for bad debt$6,000 32,000 Inventory$ 66,000 Prepaid expenses$ 6,000 Total current assets$ 124,000 Other assets Investments $ 20,000 Fixed assets Plant and equipment, original cost$ 720,000 Less Accumulated depreciation$ 200,000 Net plant and equipment$ 520,000

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.