Rroblem 7A(Ag) Contribution margin income statement and contribution margin ratio LU AT The following costs result from the production and sale of 4.050 drum sets manufactured by Tight Drums Company for the year endec December 31 . The drum sets sell for $255 each. Required: 1. Prepare a contrlbution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement for the year. \begin{tabular}{|l|l|l|} \hline Required 1 & Required 2 & Required 3 \\ \hline \end{tabular} Prepare a contribution margin income statement for the year. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs: Contribution margin Fixed costs Compute contribution margin per unit and contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.) For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.) For each dollar of sales, how much is left to cover fixed costs and contribute to income