This Question: 8 pts 3 of 21 (21 complete)> This Test: 100 Questio Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's relevant range is sales of between $110,000 and $660,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $270,000 and $480,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $270,000 level. Round the variable expense rate to the nearest whole peroant. Enter losses with a minus sign or parentheses.) Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Data Table Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income $ 500,000 120,000 $380,000 171,000 $209,000 Now prepare the contribution margin income statement at the S480,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Print Done Choose from any list or enter any number in the input fields and then continue to the next questinn. Now prepare the contribution margin income statement at the $480,000 level. (Round the variable expense rate to the nearest whole percent. Enter Data Table Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (losa) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income $500,000 120,000 $380,000 171,000 Requirement 2. Compute breakeven sales in dollars. $ 209,000 Begin by identifying the formula to compute the breakeven sales in dcllars. Fixed expenses Compute breakeven sales in dollars. The breakeven sales in dollars is $ Operating incormeContribution margin ratioBreakeven sales in dollars PrintDone Choose from any list or enter any number in the input fields and then continue to the next