Dry Cleaners has determined the following about itscosts: Total variable expenses are

$40,000; total fixed expenses are$24,000; and the sales revenue needed to break even is

$48,000. Use the contribution margin income statement and the shortcut contribution margin approaches to determineAnderson DryCleaners's current(1) sales revenue and(2) operating income.

(Hint:First find the contribution marginratio, and then prepare the contribution margin incomestatement.)

Use the contribution margin income statement and the shortcut contribution margin approaches to determine Anderson Dry Cleaners's current (1) sales revenue and (2) operating income. Begin by computing the contribution margin ratio. The contribution margin ratio is% Prepare the contribution margin income statement at the calculated sales level.Prepare the contribution margin income statement at the calculated sales level. Anderson Dry Cleaners Contribution Margin Income Statement Operating income (loss)