Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as follows: E: (Click the icon to view the income statement.) Universal's relevant range is sales of between $150,000 and $690,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $190,000 and $410,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $190,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Universal Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) - X Requirements 1. Prepare contribution margin income statements at sales levels of $190,000 and $410,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Print Done X i Data Table Universal Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 525,000 Less: Variable expenses 210,000 Contribution margin $ 315,000 Less: Fixed expenses 172,200 $ 142,800 Operating income Print Done