iffin'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 1. Compute Griffin's monthly breakeven sales in dollars. Use the contribution margin ratio approach. Select the labels and enter the amounts to calculate the breakeven point in dollars using the contribution margin approach. (Enter a "0" for any zero amounts. Round your answer to the nearest dollar. Abbreviation used: CM = contribution margin.) = Required sales in dollars Requirement 2. Use contribution margin income statements to compute Griffin's monthly operating income or operating loss if revenues are $550,000 and if they are $1,030,000. Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are $550,000. Then in the next step, calculate operating income or loss when revenues are $1,030,000. (Use a minus sign or parentheses for a loss.) Griffin's Steel Parts Contribution Margin Income Statement Revenues are Revenues are $ 550,000 $ 1,030,000 Operating Income (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 Choose from any list or enter any number in the input fields and then continue to the next