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Inc, wants to earn a target proft of $840,000 this year. The company's ixed costs...

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Accounting

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Inc, wants to earn a target proft of $840,000 this year. The company's ixed costs are expected to be $1,080,000 and its variable costs are expected to be 70 peroent of sales. Erin Shelton, Inc., esarmed $740,000 in profit last year Required: Profit 4. Prepare a contribution margin income statement based on sales required to ean a target proft of $840,000 , When the company eans $840,000 of net income, what is ts margin of safety and margin of safety as a percentage of sales? (Round your "Percentage Sales" answer to 2 decimal places e 1234 be entered as 12.34%

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