The following costs result from the production and sale of 4,300 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $280 each. Variable costs Plastic for casing $ 98,900 Wages of assembly workers 378,400 Drum stands 137,600 Sales commissions 90,300 Fixed costs Taxes on factory 13,000 Factory maintenance 26,000 Factory machinery 86,000 depreciation Lease of equipment for sales 26,000 staff Accounting staff salaries 76,000 156,000 Administrative salaries 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution margin income statement for the year. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs: Contribution margin Fixed costs Income < Required 1 Required 2 >