Western Travel uses the contribution margin income statement internally. Western's first quarter results are as follows: View the income statement. Western's relevant range is sales of between $140,000 and $630,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $270,000 and $430,000. (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 percent. Enter losses with a minus sign or parentheses.) Western Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) Requirements 1. Prepare contribution margin income statements at sales levels of $270,000 and $430,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Print Done - Income Statement Western Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 435,000 Less: Variable expenses 152,250 Contribution margin $ 282,750 166,400 Less: Fixed expenses $ 116,350 Operating income Print Done