Use the contribution margin ratio approach to compute the dollar sales Toler needs to earn $ 28 comma 800 in operating income for the year. (Round the contribution margin ratio to two decimal places.) Begin by showing the formula and then entering the amounts to calculate the required sales dollars to earn $ 28 comma 800 in operating income. (Round the required sales in dollars up to the nearest whole dollar. For example, $10.25 would be rounded to $11. Abbreviation used: CM = contribution margin.) Part 4 ( Fixed costs + Target profit ) CM ratio = Required sales in dollars ( 720,000 + 28,800 ) % = 1,246,000 Part 5 Requirement 3. Prepare Toler's contribution margin income statement for the year ended December 31, for sales of 46 comma 000 flags. (Round your final answers up to the next whole number.) (Use parentheses or a minus sign for an operating loss.) Toler Company Contribution Margin Income Statement Year Ended December 31, 20XX Operating Income (Loss)