Required information Skip to question [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (9,700 units at $280 each) $ 2,716,000 Variable costs (9,700 units at $210 each) 2,037,000 Contribution margin 679,000 Fixed costs 441,000 Income $ 238,000 1. Assume Hudson has a target income of $163,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.)