Graham's Steel Parts produces parts for the automobile industry. The company has monthly fixed costs of $670, 320 and a contribution margin of 70% of revenues. Read the requirements. Requirement 2. Use contribution margin income statements to compute Graham's monthly operating income or operating loss if revenues are $500,000 and if they are $1, 050,000. Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are $500,000. Then in the next step, calculate operating income or loss when revenues are $1, 050,000. (Use a minus sign or parentheses for a loss.) Requirement 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1? Explain. The results in Requirement 2 make sense given the breakeven sales computed in Requirement 1. Given the breakeven point of it is logical that sales above the breakeven point will result in and sales below the breakeven point will result in