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Blossom sells a learning system that helps preschool and elementary students learn basic math facts and concepts. The company's income statement from last month is as follows: Total Per Unit Sales revenue $770,000 $55 Variable expenses 269,500 19.25 Contribution margin 500,500 $35.75 Fixed expenses 325,000 Operating income $ 175,500 (a) What is Blossom's contribution margin ratio? Its variable cost ratio? (Round ratios to 2 percentage places, e.g. 0.38 = 38%.) Contribution margin ratio Variable cost ratio 9% eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b 1) Compute breakeven sales. (Use the rounded contribution margin ratio calculated in the previous part to compute breakeven sales.) Breakeven sales $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b2) What is Blossom's margin of safety? Margin of safety $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c)