The following costs result from the production and sale of 4,400 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017 The drum sets sell for $290 each. The company has a 25% income tax rate Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions $110,000 396,000 149,600 101,200 Fixed manufacturing costs Taxes on factory 14,000 Factory maintenance 28,000 Factory machinery depreciation 88,000 Fixed selling and administrative costs Lease of equipment for sales staff. 28,000 Accounting staff salaries 78,000 Administrative management salaries 158,000 Required: 1. Prepare a contribution margin income statement for the company. 2. Compute its contribution margin per unit and its contribution margin ratio. Complete this question by entering your answers in the tabs below.