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. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (11,100 units at $375 each) Variable costs (11,100 units at $300 each) Contribution margin Fixed costs Income $ 4,162,500 3, 330,000 832,500 660,000 $ 172,500 Exercise 5-12 (Algo) Target income and margin of safety LO C2 1. Assume Hudson has a target income of $156,000. 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