Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] Hudson Co. reports the contribution margin income statement for 2017 HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2017 Sales (10, 100 units at $300 each) Variable costs (10,100 units at $240 each) Contribution margin Fixed costs Pretax income $3,038,000 2,424,000 $ 606,000 468,000 $ 138,000 Exercise 21-17 Target income and margin of safety (in dollars) LO C2 1. Assume Hudson Co. has a target pretax income of $167,000 for 2018. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target pretax income for 2018, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.) 1 Amount of sales 2 Margin of safety %