Instructions Head-First Company plans to sell 4,700 bicycle helmets at $80 each in the coming year. Variable cost is 61% of the sales price; contribution margin is 39% of the sales price. Total fixed cost equals $48,700 (includes fixed factory overhead and fixed selling and administra expense) Required: 1. Calculate the sales revenue that Head-First must make to earn operating income of $91,700 by using the point in sales equation. 2. Check your answer by preparing a contribution margin income statement based on the sales dollars calculated in Requirement 1. 1. Calculate the sales revenue that Head-First must make to earn operating income of $91,700 by using the point in sales equation. 2. Check your answer by preparing a contribution margin income statement based on the sales dollars calculated in Requirement 1. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Head-First Company Contribution Margin Income Statement Based on Sales Dollars 1 2 3 4 5