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 ratio Requirement 2. Prepare two contribution margin income statements: one at the $252,000 sales level and one at the $362,000 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 $252,000 sales level. (Use a minus sign or parentheses for a loss.)Data Table Countrywide Travel Contribution Margin Income Statement Countrywide Travel Three Months Ended March 31, 2016 Contribution Margin Income Statement Net Sales Revenue Three Months Ended March 31, 2016 Variable Costs Net Sales Revenue 318,500 Contribution Margin 111,475 Variable Costs Fixed Costs Contribution Margin 207,025 Operating Income (Loss) 170,000 Fixed Costs Now prepare the contribution margin income statement at the $362,000 sales level. (Use a minus sign or parentheses for a loss.) S 37,025 Operating Income Countrywide Travel Now prepare the contribution margin income statement at the $362,000 sales level. (Use a minus sign or parentheses for a loss.) Countrywide Travel Contribution Margin Income Statement Countrywide Travel Three Months Ended March 31, 2016 Contribution Margin Income Statement $318,500 Net Sales Revenue Three Months Ended March 31, 2016 111,475 Variable Costs Net Sales Revenue Contribution Margin 207,025 Variable Costs 70,000 Fixed Costs Contribution Margin $37,025 Fixed Costs Operating Income Operating Income (Loss) Print Done Choose from any list or enter any number in the input fields and then continue to the next