Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. Exercise 5-12 (Algo) Target income and margin of safety LO C2 1. Assume Hudson has a target income of $166,000. 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)? Note: Round your answer to 1 decimal place. Answer is complete but not entirely correct