The subject is Managerial Accounting. Please show me the steps with explaination of how you get the answer.

If a business had a margin of safety ratio of 20%, variable costs of 75% of sales, fixed costs of $240,000, a break-even point of $960,000, and net income of $60,000 for the current year, what are the current year's sales? a. $1,200,000; b. $1,040,000; c. $1,260,000; d. $1,020,000 (I know the answer is a. $1,200,000, but I need to see the steps with explaination of how you get $1,200,000 as the answer).

Thank you!