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E6-22 Computing Target Profit, Preparing Contribution Margin Income Statement, Computing Margin of Safety LLO 6-2, 6-3) Erin Shelton, Inc., wants to earn a target profit of $840,000 this year. The company's fixed costs are expected to be $1,400,000 and its variable costs are expected to be 44 percent of sales. Erin Shelton, Inc., earned $900,000 in profit last year. Required: 1. Calculate break-even sales for Erin Shelton, Inc. Break-Even Sales 2. Prepare a contribution margin income statement on the basis break-even sales. Contribution Margin Income Statement Contribution Margin Profit