For Biswell Company, variable costs are 70% of sales and fixed costs are $195,000. Calculate the required sales in dollars that are needed to achiev management's target operating income of $75,000. (Use the contribution margin approach.) Variable cost ratio Total fixed costs Target operating income 70% 195,000 75,000 Determine: (a) contribution margin ratio (b) sales in dollars to achieve target operating income of $75,000 Additional Requirement: Prepare an income statement, assuming sales of $1,000,000. Sales Variable Costs Contribution Margin Fixed Costs Operating Income S 1,000,000 Using Goal Seek in Excel, determine what sales would have to be to earn a target operating income of $75,000 (by changing cell B19)