Exercise 5-4 Computing and using the CM Ratio (LO5-3] Last month when Holiday Creations, Inc., sold 42,000 units, total sales were $319,000, total variable expenses were $229,680, and fixed expenses were $35,200. Required: 1. What is the company's contribution margin (CM) ratlo? 2. What is the estimated change in the company's net operating income if it can increase total sales by $1,500? (Do no round intermediate calculations.) 28% 1. Contribution margin ratio 2. Estimated change in net operating income