Please make sure to complete all parts of the problem. Thank you.

W E20-24 (similar to) 3 Question Help For its top managers, Mars Travel formats its income statement as follows: (Click the icon to view the income statement.) Mars's relevant range is between sales of $247,000 and $367,000. Read the requirements. Requirement 1. Calculate the contribution margin ratio. Select the labels and enter the amounts to calculate the contribution margin ratio. (Enter the contribution margin ratio as a whole percentage, X%.) - Contribution margin 187,500 / / Net sales revenue 312,500 Contribution margin ratio 60 % $ 5 Requirement 2. Prepare two contribution margin income statements: one at the $247,000 sales level and one at the S367,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) First prepare the contribution margin income statement at the $247.000 sales level. (Use a minus sign or parentheses for a loss.) Mars Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (Loss) Enter any number in the edit fields and then click Check Answer. 1 part remaining Clear All Check Answer i Requirements - X Require 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $247,000 sales level and one at the $367,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) Print Done Data Table Mars Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $ 312,500 Variable Costs 125,000 Contribution Margin 187,500 176,000 Fixed Costs $ 11,500 Operating Income Print Done