= Homework: Chap... Question 14, E20-24 (si... Part 1 of 3 HW Score: 43.92%, 11.86 of 27 points O Points: 0 of 1 Save For its top managers, Mars Travel formats its income statement as follows: E (Click the icon to view the income statement.) Mars's relevant range is between sales of $249,000 and $363,000. 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%.) = Contribution margin ratio % Data table Mars Travel - X Requirements 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $249,000 sales level and one at the $363,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $ 312,500 Variable Costs 125,000 Contribution Margin 187,500 174,000 Fixed Costs $ 13,500 Operating Income Print Done Print Done