Required Information [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 (9,900 units at $225 each) Contribution margin Variable costs (0,000 units at $180 each) Fixed costs Income $2,227,500 1,782,000 445,500 342,000 $103,500 1. Assume Hudson has a target Income of $165,000. 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.) Answer is complete but not entirely correct. 1. Amount of sales 2. Margin of safety $ 1,342,500 39.7 %