Required: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Complete this question by entering your answers in the tabs below. Compute contribution margin per unit and contribution margin ratio. Note: Round Contribution margin ratio to nearest whole percentage. Required information [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. 1. Compute break-even point in units. 2. Compute break-even point in sales dollars. equired: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Complete this question by entering your answers in the tabs below. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Note: Round your answer to 2 decimal places. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Required information [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. 1. Assume Hudson has a target income of $156,000. What amount of sales (in dollars) is needed 2. If Hudson achieves its target income, what is its margin of safety (in percent)? Note: Round your answer to 1 decimal place. The following costs result from the production and sale of 4,800 drum sets manufactured by Tight Drums Company for December 31 . The drum sets sell for $330 each. Required: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement for the year