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Company ABC has total sales revenue of $700,000, variable costs of $280,000, and fixed costs of $180,000. Determine the contribution margin ratio and net operating

Company ABC has total sales revenue of $700,000, variable costs of $280,000, and fixed costs of $180,000. Determine the contribution margin ratio and net operating income. Discuss the significance of contribution margin in evaluating the company's profitability and decision-making. Present a comprehensive calculation process.

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