For its top managers, Aussie Travel formats its income statement as follows: (Click the icon to view the income statement.) Aussie's relevant range is between sales of $247,000 and $361,000. Read the requirements. Requirement 1. Calculate the contribution margin ratio. Select the labels and enter the amounts to calculate the contribution margin ratio. (Enter the contribution margin ratio as a whole percentage, XX.) Contribution margin ratio = % Data table Requirements Aussie Travel Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue $ 315,500 Variable Costs 138,820 Contribution Margin 176.680 Fixed Costs 174,000 $ 2,680 Operating Income 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $247,000 sales level and one at the $361,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range) Print Done