Global Travel uses the contribution margin income statement internally. Globar's first quarter results are as follows: (Click the icon to view the income statement.) Global's relevant range is sales of between $150,000 and $700.000 Requirement 1. Prepare contribution margin income statements at sales levels of $220.000 and 8480,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $220,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses) Global Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less Fixed expenses RE Operating income (loss) Requirements rit harg ut 1. Prepare contribution margin income statements at sales levels of $220,000 and $480,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Jole rav Inch de Print Done nie. Data table A B 1 Global Travel 3 2 Contribution Margin Income Statement Tilree Months Ended March 31 4 Sales revenue $ 520,000 5 Less: Variable expenses 208,000 6 Contribution margin $ 312,000 7 Less: Fixed expenses 171,000 8 Operating income $ 141,000 Print Done Get more help