Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, 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 % $ 331,200 99,360 $ 231,840 100 % 30 % 70 % Fragrant 20 % $ 138,000 110,400 $ 27,600 Product Loonzain 32 % 100 % $ 220,800 100 % 80 % 121,440 55 % 20 % $ 99,360 45 % Total 100 % $ 690,000 331,200 358,800 226,720 $ 132,080 100 % 48 % 52 % Fixed expenses CM ratio $226,720 Dollar sales to break-even 0.52 = $436,000 As shown by these data, net operating income is budgeted at $132,080 for the month and the estimated break-even sales is $436.000. Assume that actual sales for the month total $690,000 as planned. Actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200. 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. As shown by these data, net operating income is budgeted at $132,080 for the month and the estimated break-even sales is $436,000. Assume that actual sales for the month total $690,000 as planned. Actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200. 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 Fragrant % White Loonzain Total Percentage of total sales % % % % % % % % % % $ 0 0 % $ ol 0% $ 0 0 % 0 0 % $ 0