i Data Table Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $ 317,500 Variable Costs 95,250 Contribution Margin 222,250 Fixed Costs 173,000 $ 49,250 Operating Income Print Done For its top managers, Global Travel formats its income statement as follows: (Click the icon to view the income statement.) Global's relevant range is between sales of $255,000 and $362,000. Read the requirements. Requirement 1. Calculate the contribution margin ratio. Select the labels and enter the amounts to calculate the contribution margin ratio. (Enter the contribution margin ratio as a whole percentage, X%.) = Contribution margin ratio Requirement 2. Prepare two contribution margin income statements: one at the $255,000 sales level and one at the $362,000 sales level. (Hint: The proportion of each sales dollar that goes toward variable costs is constant within the relevant range.) First prepare the contribution margin income statement at the $255,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (Loss) Now prepare the contribution margin income statement at the $362,000 sales level. (Use a minus sign or parentheses for a loss.) Global Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income (Loss)