The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $500 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? Compute contribution margin per unit and contribution margin ratio. TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ For Year Ended December 31} \\ \hline Sales & Variable costs: & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total variable costs & & \\ \hline Contribution margin & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.)