3) Assume Hudson Lighting has a target net income of $2,196,350 for 2023 . What amount of sales (in dollars) is needed to reach this target? 4) If Hudson Lighting achieves its target net income for 2023, what is its margin of safety in percentage form? 5) Hudson Lighting is considering investing in some new equipment that will increase the annual fixed costs by $120,950 per year and decrease the variable costs by $29 per fixture. Assuming the company purchases this equipment, what would be the impact on net income? 6) Compute the company's degree of operating leverage for 2022. (Please round your answer to two decimal places.) 7) Assume sales decrease by 8% in 2022 . What is the company's net operating income? (Use the rounded degree of operating leverage to calculate.) Hudson Lighting Hudson Lighting sells high end light fixtures. The company reported the following contribution margin income statement for 2022 . 1) Compute the company's CM ratio and variable expense ratio. 2) Compute the company's break-even point in both units (fixtures) and sales dollars