3.Blankinship, Inc., sells a single product. The company's most recent income statement is given below.

Sales$200,000

Less variable expenses (120,000)

Contribution margin80,000

Less fixed expenses(50,000)

Net income$30,000

Required:

a.Contribution margin ratio is________ %

b.Break-even point in total sales dollars is$ ________

c.To achieve $40,000 in operating income, sales must total$ ________

d.If sales increase by $50,000, net income will increase by$ ________

pls includes explanation on how to get the amount. Thanks