QUESTION 7 G1 is a manufacturer of exercise equipment. The budgeted income statement for the coming year is as follows. RM Sales (12,000 units) 900,000 Less: Variable expenses 342,000 Contribution margin 558,000 Less: Fixed expenses 363,537 Income before taxes 194,463 Less: Income taxes w Net income 116,678 Required: 1. What is Gl's contribution margin ration? 2. How much sales revenue must GI earn in order to break even? What is the expected margin of safety? (Round your answers to the nearest RM). 3. How much sales revenue must GI generates to earn a before-tax profit of RM200,000 using Contribution Margin Approach