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Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows Percent of Sales Amount Sales Variable expenses Contribution margin Fixed expenses Net operating income 121,000 100% 40% 60% 48,400 72,600 18,000 $ 54,600 Required 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 24% increase in sales. What is the company's degree of operating leverage? (Round your answer to 2 decimal places.) Degree of operating leverage Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. (Round your intermediate calculations to 2 decimal places. Round your percentage answer to 2 decimal places (i.e .1234 should be entered as 12.34)) Net operating income by Construct a new contribution format income statement for the company assuming a 24% increase in sales Engberg Company Contribution Income Statement Amount Percent of Sales