Euro Travel uses the contribution margin income statement internally. Euro's first quarter results are as follows:

$($Click the icon to view the income statement.$)$

Euro's relevant range is sales of between $$115,000$ and $$655,000.$

Read the requirements.

Requirement $1.$ Prepare contribution margin income statements at sales levels of $$190,000$ and $$410,000.($Hint: Use the contribution margin ratio.$)$

Euro Travel

Contribution Margin Income Statement

Data table

Three Months Ended March $31$

Sales revenue

Less: Variable expenses

Contribution margin

Less: Fixed expenses

Operating income $($loss$)$

$\backslash$table$[[,$A$,,$B$],[1,$Euro Travel$],[2,$Contribution Margin Income Statement$],[3,$Three Months Ended March $31],[4,$Sales revenue,$$,425,000],[5,$Less: Variable expenses,,$148,750],[6,$Contribution margin,$$,276,250],[7,$Less: Fixed expenses,,$174,200],[8,$Operating income,$$,102,050]]$

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