For its top managers, Mars Travel formats its income statement as follows: (Click the icon to...

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For its top managers, Mars Travel formats its income statement as follows: (Click the icon to view the income statement.) Mars's relevant range is between sales of $255,000 and $370,000. 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 ratio % Data table Mars Travel Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income $ 315,500 138,820 176,680 174,000 2,680 Requirements 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $255,000 sales level and one at the $370,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) For its top managers, Mars Travel formats its income statement as follows: (Click the icon to view the income statement.) Mars's relevant range is between sales of $255,000 and $370,000. 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 ratio % Data table Mars Travel Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income $ 315,500 138,820 176,680 174,000 2,680 Requirements 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $255,000 sales level and one at the $370,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.)