Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's relevant range is sales of between $125,000 and $675,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $220,000 and $460,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $220,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) Now prepare the contribution margin income statement at the $460,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) Calculator Requirements Data table A B 1 2 Countrywide Travel Contribution Margin Income Statement 3 Three Months Ended March 31 4 Sales revenue $ 525,000 5 Less: Variable expenses 210,000 6 Contribution margin $ 315,000 7 Less: Fixed expenses 172,200 8 Operating income $ 142,800 Print Done 1. Prepare contribution margin income statements at sales levels of $220,000 and $460,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Print Done