Erin Shelton, Incorporated, wants to earn a target profit of $810.000 this year, The company's fixed costs are expected to be $1,020,000 and its variable costs are expected to be 40 percent of sales. Erin Sheiton, Incorporated. earned $710.000 in profit last 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 $810,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $810,000 5. When the company earns $810,000 of net income, what is its margin of safety and margin of safery as a percentage of sales? Complete this question by entering your answers in the tabs below. Calculate break-even sales for Erin Shelton, Incorporated. Erin Shelton, Incorporated, wants to earn a target proflt of $810,000 this yeac. The company's fixed costs are expected to be $1,020,000 and its variable costs are expected to be 40 percent of sales. Erin Shelton, Incorporated. earned $710,000 in profit last year, Required: 1. Calculate breakeven sales for Erin Sheiton, incorporated. 2. Prepare a contribution margin income statement on the bas is of break-even sales. 3. Calculate the required sales to meet the target profit of $810.000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $810,000 5. When the company earns $810,000 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 on the basis of break-even sales. Note: Do not leave any cells blank. Enter a 'O' vherever necessary. Erin Shelton, incorporated, wants to earn a target profit of $810.000 this year. The company's fixed costs are expected to be $1,020,000 and its variable costs are expected to be 40 percent of sales. Erin Sheiton, Incorporated, earned $710,000 in profit last 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 $810,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $810,000. 5. When the company earns $810,000 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 the required sales to meet t of $810,000. Erin Sheiton, Incorporated, wants to earn a target profit of $810,000 this year. The company's fixed costs are expected to be $1,020,000 and its variable costs are expected to be 40 percent of sales. Erin Shelton, Incorporated, earned $710,000 in profit year. Required: 1. Calculate break-even sales for Erin Shelton, Incorporated 2. Prepare a contribution margin income statement on the basis of breakeven sales. 3. Calculate the required sales to meet the target profit of $810,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $810,000. 5. When the company earns $810,000 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 $810,000. Erin Shelton. Incorporated. wants to earn a target profit of $810,000 this year. The company's fixed costs are expected to be $1,020,000 and its variable costs are expected to be 40 percent of sales. Erin Sheiton. Incorporated. earned $710,000 in profit last year: Requlred: 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 proft of $810.000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $810,000 5. When the company earns $810.000 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 $820,000 of net income, what is its margin of safety and margin of safety as a percentage of males? Notei Round vour "Percentage Salei' ansirer to 2 decimal places. (Le. 0.1234 should be entared as 12.34%.)