i Data Table Universal Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 475,000 Less: Variable expenses 142,500 Contribution margin $ 332,500 165,200 Less: Fixed expenses 167,300 Operating income Print [ Done] Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as follows: (Click the icon to view the income statement.) Universal's relevant range is sales of between $125,000 and $690,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $200,000 and $460,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $200,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Universal Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss)