Northern Travel uses the contribution margin income statement internally Northern's first quarter results are as follows: (Click the icon to view the income statement.) Northern's relevant range is sales of between $115,000 and $675,000. Read the requirements, Requirement 1. Prepare contribution margin income statements at sales levels of $230,000 and $470,000. (Hint Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $230,000 level. ound the variable expense rate to the nearest whole percent. Northern Travel Requirements Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 1. Prepare contribution margin income statements at sales levels of $230,000 and S470,000. (Hint: Use the contribution margin ratio.) Less: Variable expenses 2. Compute breakeven sales in dollars Contribution margin Less: Fixed expenses Print Done Operating income OSS Data Table Northern Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 450,000 171,000 Less: Variable expenses Contribution margin 279,000 173,600 Less: Fixed expenses 105,400 Operating income Print Done