Airborne Travel uses the contribution margin income statement internally. Airborne's first quarter results are as follows:

$($Click the icon to view the income statement.$)$

Airborne's relevant range is sales of between $$130,000$ and $$690,000.$

Read the requirements.

Requirement $1.$ Prepare contribution margin income statements at sales levels of $$250,000$ and $$480,000.($Hint: Use the contribution margin ratio.$)$

Begin by preparing the contribution margin income statement at the $$250,000$ level. $($Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign

or parentheses.$)$

Airborne Travel

Contribution Margin Income Statement

Three Months Ended March $31$

Sales revenue

Less: Variable expenses

Contribution margin

Less: Fixed expenses

Operating income $($loss$)$

Data table