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Margin of Safety Molson-Coors Brewing Company (TAP) reported the following operating information for a recent year (in millions): Sales $3,568 Cost of goods sold (2,164)

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Margin of Safety Molson-Coors Brewing Company (TAP) reported the following operating information for a recent year (in millions): Sales $3,568 Cost of goods sold (2,164) Gross profit $1,404 Marketing, general, and admin. expenses Operating income $ 352* *Before special items Assume that Molson-Coors sold 120 million barrels of beer during the year, variable costs were 70% of the cost of goods sold and 40% of marketing, general, and administrative expenses, and that the remaining costs are fixed. For the following year, assume that Molson-Coors expects pricing, variable costs per barrel, and fixed costs to remain constant, except that new distribution and general office facilities are expected to increase fixed costs by $100 million. Assume that break-even sales are $2,798 million. 1. Margin of safety expressed as dollar sales.. Enter the answer in millions million 2. Margin of safety expressed as a percentage. Enter the answer as percent rounded to one decimal place

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