Global Travel uses the contribution margin income statement internally. Global's first quarter results are as follows: (Click the icon to view the income statement.) Global's relevant range is sales of between $110,000 and $655,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $220,000 and $460,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $220,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Global Travel Contribution Margin Income Statement Three Months Ended March 31 Data table 110000 - X Sales revenue Less: Variable expenses Contribution margin A B 1 Global Travel 172,200 Less: Fixed expenses 2 Contribution Margin Income Statement 3 Three Months Ended March 31 Operating income (loss) 4 Sales revenue S 525,000 5 Less: Variable expenses 210,000 6 Contribution margin $ 315,000 7 Less: Fixed expenses 172,200 8 Operating income S 142,800 Requirements 1. Prepare contribution margin income statements at sales levels of $220,000 and $460,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Print Done