Hello, I need some assistance Cowboy Ice Cream Company (CIC) is considering the addition of a new product to its retail line of ice cream bars. The company hasthree distinctly different options: mint chocolate chip, salted caramel, or birthday cake. Relevant information and budgeted annualincome statements for each of the products follow.Relevant InformationSaltedBirthdayCakeMint ChocolateCaramelChip120,00010৪0, 00013200,000Budgeted sales in units (a)Expected sales price (b)Variable costs per unit (c)138.2$Income statementsSales revenue (a x b)Variable costs (a x c)Contribution margin1,200,000(240,000)960,000(609,000)$1,200,000(600,000)600,000(435,000)$1,040,000(640,000)400,000(120,000)Fixed costs351,000165,000280,000Net incomeRequireda. Determine the margin of safety as a percentage for each product.Complete this question by entering your answers in the tabs below.Req ADetermine the margin of safety as a percentage for each product. (Round your answers to whole percentage values.)Mint ChocolateSalted Caramel Birthday CakeChipMargin of safety

Calculation of the Break-Even sales: Mint Chocolate chips: =Break even Sales =(Fixed…

Cowboy Ice Cream Company (CIC) is considering the addition of a new product to its retail line of ice cream bars. The company has three distinctly different options: mint chocolate chip, salted caramel, or birthday cake. Relevant information and budgeted annual income statements for each of the products follow. Relevant Information Salted Mint Chocolate Chip 120,000 Birthday Cake 80,000 13 8. Caramel 200,000 Budgeted sales in units (a) Expected sales price (b) Variable costs per unit (c) %24 10 2$ 13 Income statements $ 1,200,000 (240,000) 960,000 (609,000) 351,000 $1,200,000 (600,000) 600,000 (435,000) $1,040,000 (640,000) 400,000 (120,000) Sales revenue (a x b) Variable costs (a x c) Contribution margin Fixed costs 24 165,000 280,000 Net income Required a. Determine the margin of safety as a percentage for each product. Complete this question by entering your answers in the tabs below. Req A Determine the margin of safety as a percentage for each product. (Round your answers to whole percentage values.) Mint Chocolate Salted Caramel Birthday Cake Chip Margin of safety %