Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as follows: EEB (Click the icon to view the income statement.) Universal's relevant range is sales of between $130,000 and $670,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $200,000 and $450,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $200,000 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 Requirements 1. Prepare contribution margin income statements at sales levels of $200,000 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) and $450,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars Print Done Universal Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin $ 425,000 148,750 $ 276,250 174,200 ess: Fixed expenses $102,050 Operating income