Blankinship, Inc., sells a single product. The company's most recent income statement is given below. Required: ANS BLANK 1. Contribution margin ratio is % ANS BLANK 2. Break-even point in total sales dollars is $ ANS BLANK 3. To achieve $40,000 in operating income, sales must total $ ANS BLANK 4. If sales increase by $50,000, net income will increase by $. Blank \# 1 Blank \# 2 Blank \# 3 Blank \# 4