Harold McWilliams owns and manages a general mechandise store in a rural area of Virginia.

Harold McWilliams owns and manages a general merchandise store in a rural area of Virginia. Harold sells appliances, clothing, auto parts, and farming equipment, among a wide variety of other types of merchandise. Because of normal seasonal and cyclical uctuations in the local economy, he knows that his business will also have these uctuations, and he is planning to use CVP analysis to help him understand how he can expect his prots to change with these uctuations. Harold has the following information for his most recent year. Cost of goods sold represents the cost paid for the merchandise he sells, while operating costs represent rent, insurance, and salaries, which are entirely xed. Sales $583,303 Cost of merchandise sold 489,660 Contribution margin 193,403 Operating costs 86,523 Operating profit $103,383 | Required: 'l-a. What is Harold's margin of safety {M05} in dollars? {Do not round intermediate calculations.} 1b. What is the margin of safety {MOS} ratio? {Input your answer as a percentage rounded to 2 decimal places {i.e., 0.156? = 1557961.} 3. What is Harold's margin of safety {in dollars) and operating prot ifsales should fall to $585,000? (Do not round intermediate calculations.} . Margin ofsafety (MOS) 1-b. MOS ratio 3. Margin of safety Operating prot