5 0 value: 4.00 points E6-22 Computing Target Profit, Preparing Contribution Margin Income Statement, Computing Margin of Safety [LO 6-2, 6-3] Erin Shelton, Inc., wants to earn a target profit of $830,000 this year. The company's fixed costs are expected to be $1,060,000 and its variable costs are expected to be 60 percent of sales. Erin Shelton, Inc., earned $730,000 in profit last year. Required: 1. Calculate break-even sales for Erin Shelton, Inc. Answer is complete and correct. -Even $ 2,650,000 2. Prepare a contribution margin income statement on the basis break-even sales. (Do not leave any cells blank, enter a zero wherever required.) Answer is complete but not entirely correct. Contribution Margin Statement Income Sales 2,650,000 Variable Costs1,590,000 Contribution Margin Fixed Costs ,060,000 1,060,000 Net Operating Income Profit