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Exercise 2-13A (Algo) Using contribution margin format income statement to measure the magnitude of operating...

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Exercise 2-13A (Algo) Using contribution margin format income statement to measure the magnitude of operating leverage LO 23,24 The following income statement was drawn from the records of Benson Company, a metcbandising firm. Required a. Reconstruct the income statement using the contribution margin format b. Calculate the magnitude of operating leverage c. Use the measure of operating leverage to determine the amount of net income Benson will earn if sales increase by 20 percent Reconstruct the income statement using the contribution margin format. nework Assignment i Complete this question by entering your answers in the tabs below. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net income Benson will earn if sales increase by 20 percent. Note: Round your intermediate calculations and "Operating leverage", answer to 2 decimal places. Round the "Net income" value to nearest whole doliar

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