E7-17A Prepare contribution margin income statements (Learning Objective 1) Global Travel uses the contribution margin income statement internally. Global's frst- quarter results are as follows Global Travel Contribution Margin Income Statement ed Marc $400,000 120,000 ales revenue 6 Less: Variable expenses Contribution margin 8 Less: Fixed expenses 9 Operating income 170.800 Global's relevant range is sales of between $135,000 and $675,000 Requirements 1. Prepare contribution margin income statements at sales levels of $270,000 and 410,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars