Cover-to-Cover Company Contribution Margin Income Statement For the Year Ended December 31, 2018 Sales $379,000 Variable costs: Manufacturing expense $227,400 Selling expense 18,950 Administrative expense 56,850 (303,200) Contribution margin $75,800 Fixed costs: Manufacturing expense $5,000 Selling expense 4,000 Administrative expense 9,950 (18,950) Operating income $56,850 Biblio Files Company Contribution Margin Income Statement For the Year Ended December 31, 2018 Sales $379,000 Variable costs: Manufacturing expense $151,600 Selling expense 15,160 Administrative expense 60,640 (227,400) Contribution margin $151,600 Fixed costs: $76,750 Manufacturing expense Selling expense Administrative expense 8,000 10,000 (94,750) Operating income $56,850 Target Profit Refer again to the income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statement. Note that both companies have the same sales and net income. Answer questions (1)-(3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales. 1. If Cover-to-Cover Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be? 2. If Biblio Files Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be