For its top managers, Worldwide Travel formats its income statement as follows: (Click the icon to view the income statement.) Data table Worldwide's relevant range is between sales of $253,000 and $368,000. 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%.) Worldwide Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $ 316,500 Variable Costs 136,095 Contribution Margin 180,405 Fixed Costs 173,000 $ 7,405 Operating Income Contribution margin ratio Requirements Print Done 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $253,000 sales level and one at the $368,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.)