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 $100,000 and 5690,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $270,000 and $470,000. (Hint: 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.) Northern Travel Contribution Margin Income Statement Three Months Ended March 31 Data table Sales revenue Requirements Less: Variable expenses Contribution margin B Less: Fixed expenses 1 Northern Travel 1. Prepare contribution margin income statements at sales levels of $270,000 and $470,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. 2 Operating income (loss) Contribution Margin Income Statement Three Months Ended March 31 3 4 Sales revenue 500,000 120,000 5 ess: Variable expenses Print Done $ 380.000 6 Contribution margin 7 Less: Fixed expenses 171,000 8 Operating income 209,000 Print Done