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 $135,000 and $670,000 Read the requirements ..... Requirement 1. Prepare contribution margin income statements at sales levels of $240,000 and $420,000. (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.) Airborne Travel Contribution Margin Income Statement Three Months Ended March 31 Data Table Sales revenue A B Less: Variable expenses Contribution margin 1 Airborne Travel Less: Fixed expenses 2 Contribution Margin Income Statement Three Months Ended March 31 Operating income (loss) 3 4 Sales revenue 500,000 120.000 5 Less: Variable expenses 6 Contribution margin $ 7 Less: Fixed expenses 380,000 171,000 209,000 8 Operating income $ Print Done