Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48% $ 345,600 103,680 $ 241,920 100 % 30 % 70 % Product Fragrant Loonzain 20% 32 % $ 144,000 100% $ 230, 400 100 % 115,200 80 % 126,720 55 % $ 28,800 20 % $ 103, 680 45 Total 100 % $ 720,000 345,600 374,400 232,960 $ 141,440 100% 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $ 232,960 0.52 - $448,000 As shown by these data, net operating income is budgeted at $141,440 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $720,000 as planned. Actual sales by product are: White, $230,400; Fragrant, $288,000; and Loonzain, $201,600. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product White Loonzain Total Fragrant % Percentage of total sales % % % % % % % % % 0 % % 0 0 % $ 0 0 % $ 0 0 0 % $ 0