The following costs result from the production and sale of 4,750 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $325 each. Required: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Prepare a contribution margin income statement for the year. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 \begin{tabular}{|l|l|l|} \hline Sales & & \\ \hline Variable costs: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Contribution margin & & \\ \hline Fixed costs & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Compute contribution margin per unit and contribution margin ratio. (Round Contribution n nercentace. ) Complete this question by entering your answers in the tabs below. For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.)