Happenstance, Inc., sells one product. The company's income statement is shown below.

Sales $200,000

Less variable expenses (120,000)

Contribution margin 80,000

Less fixed expenses (50,000)

Net income $ 30,000

Compute:

a. Contribution margin ratio _______________ %

b. Breakeven point in sales dollars $ _______________

c. To reach a $40,000 target income, sales revenue must be $ _______________

d. If sales increase by $50,000, income will increase by $ _______________