For its top managers, Countrywide Travel formats its income statement as follows: (Click the icon to view the income statement.) Countrywide's relevant range is between sales of $247,000 and $367,000. 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, X%.) Contribution margin $ 222,250 $ Net sales revenue 317,500 Contribution margin ratio 70 % Requirement 2. Prepare two contribution margin income statements: one at the $247,000 sales level and one at the $367,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) First prepare the contribution margin income statement at the $247,000 sales level. (Use a minus sign or parentheses for a loss.) Countrywide Travel Data table Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue $ 317,500 95,250 Variable Costs Operating Income (Loss) Contribution Margin 222,250 171,000 Fixed Costs Help me solve this Etext pages Get more help $ 51,250 Operating Income Clear all Check