4 pints eBook Hint Print References Erin Shelton, Incorporated, wants to earn a target profit of $940,000 this year. The company's fixed costs are expected to be $1,280,000 and its variable costs are expected to be 75 percent of sales. Erin Shelton, Incorporated, earned $840,000 in profit la year. Required: 1. Calculate break-even sales for Erin Shelton, Incorporated. 2. Prepare a contribution margin income statement on the basis of break-even sales. 3. Calculate the required sales to meet the target profit of $940,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000. 5. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate break-even sales for Erin Shelton, Incorporated. Break-Even Sales $ 5,120,000 Required Required 5 Required 2 >

$1.280,000, Incorporated, wants to earn a target profit of $940,000 this year. The company's fixed costs are expected to be year Required: 1. Calculate break-even sales for Erin Shelton, Incorporated 2. Prepare a contribution margin income statement on the basis of break-even sales. 3. Calculate the required sales to meet the target profit of $940,000 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000. 5. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Calculate break-even sales for Erin Sheiton, Incorporated. Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement on the basis of break-even sales. Note: Do not leave any cells blank. Enter a ' 0 ' wherever necessary. Erin Shelton, Incorporated, wants to earn a target profit of $940,000 this year. The company's fixed costs are expected to be $1,280,000 and its variable costs are expected to be 75 percent of sales. Erin Sheiton, Incorporated, earned $840,000 in pro year. Required: 1. Calculate break-even sales for Erin Shelton, Incorporated. 2. Prepare a contribution margin income statement on the basis of break-even sales. 3. Calculate the required sales to meet the target profit of $940,000 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000 5. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sal Complete this question by entering your answers in the tabs below. Calculate the required sales to meet the target profit of $940,000. Erin Sheiton, Incorporated, wants to earn a target profit of $940,000 this year. The company's fixed costs are expected to be $1,280,000 and its variable costs are expected to be 75 percent of sales. Erin Sheiton, Incorporated, earned $840,000 in profit las year: Required: 1. Calculate break-even sales for Erin Shelton, Incorporated. 2. Prepare a contribution margin income statement on the basis of break-even sales. 3. Calculate the required sales to meet the target profit of $940,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000 5. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000. Erin Shelton, Incorporated, wants to earn a target profit of $940,000 this year. The company's foxed costs are expected to be $1,280,000 and its variable costs are expected to be 75 percent of sales. Erin Shelion, Incorporated, earned $840,000 in profit last year. Required: 1. Calculate break-even sales for Erin Shelton, Incorporated. 2. Prepare a contnbution margin income statement on the basis of break-even sales. 3. Calculate the required sales to meet the target profit of $940,000 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $940,000 5. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. When the company earns $940,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Note: Round your "Percontage Sales" answer to 2 decimal places. (l.e. 0.1234 should be entered as 12.34%.)