For its top managers, Pluto Travel formats its income statement as follows: EIf (Click the icon to viow the income statoment.) Pluto's relevant range is between sales of $249,000 and $361,000. Read the fequirements: Requirement 1. Colculate the contribution margin ratio. Select the labels and enter the amounts to calculate the contribution margin ratio. (Emier the contribution margin ratio as a wholo percentage, X\%). Pluto Travel Contribution Margin Income Statement Three Months Ended March 31, 2024 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income \begin{tabular}{r} 315,500 \\ 138,820 \\ \hline 176,680 \\ 175,000 \\ \hline$1,680 \\ \hline \hline \end{tabular} Requirements 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income statements: one at the $249,000 sales level and one at the $361,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.)