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 (11,500 units at $225 each) Variable costs (11,500 units at $180 each) Contribution margin Fixed costs Income $ 2,587,500 2,070,000 517,500 360,000 $ 157,500 1. Assume Hudson has a target income of $154,000. 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.) 1. Amount of sales 2. Margin of safety %