Northern Travel uses the contribution margin income statement internally Northern's first quarter results are as follows: E(Click the icon to view the income statement) Northern's relevant range is sales of between $135,000 and $640,000. Read the teguirements Requirement 1. Prepare contribution margin income statements at sales levels of $240,000 and $400,000 (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $240,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses) - X Northern Travel Requirements Contribution Margin Income Statement Three Months Ended March 31 1. Prepare contribution margin income statements at sales levels of $240,000 and $400,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars 240,000 Sales revenue Less Variable expenses Contribution margin 174,200 Less: Fixed expenses Print Done C Operating income (loss) e - X Data Table Northern Travel Contribution Margin Income Statement Three Months Ended March 31 $ 425,000 Sales revenue 148,750 Less: Variable expenses $ 276,250 Contribution margin 174,200 Less: Fixed expenses $ 102,050 Operating income