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 of $$246,000$ and $$363,000.$

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 $$ Net sales revenue $=$ Contribution margin ratio

$$207,025,$$$,318,500,=,65\%$

Requirement $2.$ Prepare two contribution margin income statements: one at the $$246,000$ sales level and one at the $$363,000$ 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 $$246,000$ sales level. $($Use a minus sign or parentheses for a loss.$)$

Global Travel

Contribution Margin Income Statement

Three Months Ended March $31,2024$

Net Sales Revenue

$ $246,000$