please answer target profit questions

Mastery Problem: Cost-Volume-Profit Analysis Cont Behavior High-Low Contribution Margin Income Statement-Cover-to-Cover Target Profit Shaded cells have feedback X Refer again to the income statements for Cover.lo-Cover Company and Biblo Files Company on their respective Income Statement panels. Note that both companies have the same sales and net income. Answer questions (1)-(3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales 1. Cover-to-Cover Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be? $ Points: 0/1 Feedback Check My Work Examine the differences between the two companies, including the differences in elements of the target profit formula 2. Biblio Files Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be7$ Points 10/1 Feedback v Check My Work Examine differences between the two companies, including the differences in elements of the target profit formula Previous Check My Work Email Instructor Save and Exit Submit Assignment for All work saved. Cost Behavior High-Low Contribution Margin Income Statement-Cover-to-Cover Target Profit Income Statement - Cover-to-Cover RE Shaded cells have sa Cover-to-Cover Company oth companies nount of sales Contribution Margin Income Statement 1. For the Year Ended December 31, 20Y7 $ 1 Sales 5424,000.00 2 Variable costs: Points: $233,200.00 4 21,200.00 3 Manufacturing expense Selling expense 5 Administrative expense # Contribution margin 63,600.00 318,000,00 $106,000.00 7 Fixed costs: 2. $5,000.00 Manufacturing expense Selling expense 4,000.00 Points 10 Administrative expense 33.400.00 42.400.00 $63,600.00 11 Income from operations Check My Work Shar Target Profit Income Statement - Cover-to-Cover RE Income Statement-Biblio Files sa Biblio Files Company 1. . Contribution Margin Income Statement For the Year Ended December 31, 2017 1 Sales $424,000.00 2 Variable costs: $169,600.00 5 Manufacturing expense Selling expense 4 16,960.00 67,840.00 254,400.00 5 Administrative expense Contribution margin $169,600.00 6 1 Fixed costs: 2 $88,000.00 8,000.00 Manufacturing expense Selling expense 10 Administrative expense 11 Income from operations 10,000.00 106,000.00 $63,600.00 Check My Work