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CoursHeroTranscribedText: Harold McWiIliams owns and manages a general merchandise store in a rural area ofVirginia. Harold sells appliances, clothing, auto parts, and farming equipment among a wide variety of other types of merchandise. Because of normal seasonal and cyclical fluctuations in the local economy, he knows that his business will also have these fluctuations, and he is planning to use CVP analysis to help him understand how he can expect his prots to change with these fluctuations. Harold has the following information for his most recent year. Cost of goods sold represents the cost paid for the merchandise he sells, while operating costs represent rent, insurance, and salaries. which are entirely xed. Sales 5 558,600 Cost of merchandise sold 335,390 Contribution margin 224,600 Operating costs 97,260 Operating profit 5 126,300 Required: 1a. What is Harold's margin of safety {M05} in dollars? {Do not round intermediate calculations} 1b. What is the margin of safety (MOS) ratio? {Input your answer as a percentage rounded to 2 decimal places {i.e.. 0.156? = 1557943).) 3. What is Harold's margin of safety [in dollars} and operating profit if sales should fall to $495,000? [Do not round intermediate calculations} . Margin of safety (MOS) . MOS ratio Margin of safety Operating prot

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