Homework: Chapter 7 Homework (required) Score: 0 of 1 pt X E7-19A (similar to) 1 of 12 (4 complete Aussie Travel uses the contribution margin income statement internally. Aussie's first quarter results are as follows: (Click the icon to view the income statement.) Aussie's relevant range is sales of between $115,000 and $700,000 Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $270,000 and $410,000. (Mint Use the contribution margin ratio) Begin by preparing the contribution margin income statement at the $270,000 level. (Round the variable expense rate to the nearest whole percent Enter losses with a minus sign or parentheses Aussie Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 475,000 Less: Variable expenses 142,500 Contribution margin 332,500 165.200 Less: Fixed expenses 167 300 Operating income (loss) Enter any number in the edit fields and then click Check Answer Clear All 2 parts remaining i Requirements Prepare contribution margin income statements at sales levels of $270,000 and $410,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Print Done i Data Table bsses with Aussie Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 475,000 Less: Variable expenses 142,500 Contribution margin 332,500 Less: Fixed expenses 165,200 167,300 Operating income Print Done