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For its top managers, Global Travel formats its income statement as follows: (Click the...

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Accounting

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 $246,000 and $363,000.
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 Net sales revenue = Contribution margin ratio
$207,025,$,318,500,=,65%
Requirement 2. Prepare two contribution margin income statements: one at the $246,000 sales level and one at the $363,000 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 $246,000 sales level. (Use a minus sign or parentheses for a loss.)
Global Travel
Contribution Margin Income Statement
Three Months Ended March 31,2024
Net Sales Revenue
$ 246,000
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