Cowboy Ice Cream Company (CIC) is considering the addition of a new product to its retail line of ice cream bars. The company has three distinctly different options: mint chocolate chip, salted caramel, or birthday cake. Relevant information and budgeted annual Income statements for each of the products follow, Relevant Information Mint Chocolate Salted Caramel Birthday Cake Chip 120,000 200,000 80,000 10 $ 6 $ 13 2 $ 3 8 Budgeted sales in units (a) Expected sales price (6) Variable costs per unit (c) Income statements Sales revenue (axb) Variable costs ( ac) Contribution margin Fixed costs Net income $1,200,000 (240,000) 960,000 (689, 000) $ 351,000 $1,200,000 1600,000) 600,000 (435,000) $ 165,000 $1,040,000 (640,000) 400,000 (120,000) 5 280,000 Required a. Determine the margin of safety as a percentage for each product. Complete this question by entering your answers in the tabs below. Red A