B 1 Worldwide Travel 2. Contribution Margin Income Statement 3 Three Months Ended March 31 4 Sales revenue $ 475,000 5 Less: Variable expenses 180,500 6 Contribution margin $ 294,500 7 Less: Fixed expenses 170,500 8 Operating income $ 124.000 B 1 Worldwide Travel 2. Contribution Margin Income Statement 3 Three Months Ended March 31 4 Sales revenue $ 475,000 5 Less: Variable expenses 180,500 6 Contribution margin $ 294,500 7 Less: Fixed expenses 170,500 8 Operating income $ 124.000