Please provide both steps and answers.

Ronnie's Repair Shop has a monthly target profit of $28,000. Variable costs are 80% of sales, and monthly fixed costs are $12,000. Requirements 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. 2. Express Ronnie's margin of safety as a percentage of target sales. 3. Why would Ronnie's management want to know the shop's margin of safety? C. Requirement 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. Select the labels and enter the amounts to compute Ronnie's Repair Shop's monthly margin of safety in dollars. = Margin of safety in dollars Requirement 2. Express Ronnie's margin of safety as a percentage of target sales. (Enter your answer as a whole percent.) The margin of safety as a percentage of target sales is: %. Requirement 3. Why would Ronnie's management want to know the shop's margin of safety? V to the company when there is a possibility of Managers can use margin of safety to assess the Making this assessment helps managers