1. Prepare contribution margin income statements at sales levels of $240,000 and $390,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. A B 1 Global Travel 2 Contribution Margin Income Statement 3 Three Months Ended March 31 4 Sales revenue $ 435,000 5 Less: Variable expenses 152,250 6 Contribution margin $ 282,750 7 Less: Fixed expenses 166,400 8 Operating income $ 116,350 Global Travel uses the contribution margin income statement internally. Global's first quarter results are as follows: : (Click the icon to view the income statement.) Global's relevant range is sales of between $150,000 and $640,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $240,000 and $390,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $240,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Global Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 240,000 96,000 Less: Variable expenses Contribution margin 144,000 166,400 Less: Fixed expenses (22,400) Operating income (loss)