The following is last month's contribution format income statement Sales (12,000 units) $1,200,000 Less variable expenses 700.000 Contribution margin 500,000 Less fixed expenses 300,000 Net income $200,000 What is the margin of safety? 179 b 20% 40% 30% QueSLUI Young Company has a margin of safety percentage of 20%. The break-even in sales dollars point is $400,000 and the variable costs are 40% of sales. Given this information, the net income is: a b $0. $48,000 $60,000 $80,000 Oc d