For its top managers, Global Travel formats its income statement as follows: (Click the icon to view the income statement.) Global's relevant range is between sales $255.000 and $365,000 Read the requiruments. Requirement 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 ratio Requirement 2. Prepare two contribution margin income statements: one at the $256,000 sales level and one at the $365,000 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 $256,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (Loss) Now prepare the contribution margin income statement at the $365,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Requirement 2. Prepare two contribution margin income statements: one at the $256,000 sales level and one at the $365,000 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 $256,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (Loss) Now prepare the contribution margin income statement at the $365,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (LOSS) ne $256,000 sales level and one at the $365,000 sales level. (Hint: The proportion of ed Data table Global Travel Requirements 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $256,000 sales level and one at the $365,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $ 318,500 Variable Costs 111,475 Contribution Margin 207,025 Fixed Costs 173,000 $ 34,025 Operating Income Print Done Print Done