A contribution income statement for the Nantucket Inn is shown below. (lgnore income taxes.) $1,700,000 Revenue 1,088,000 612,000 Less: Variable expenses Contribution marqin Less: Fixed expenses S 459,000 153,000 Net income Required: 1. Show the hotel's cost structure by indicating the statement 2. Suppose the hotel's revenue declines by 20 percent. Use the contribution-margin percentage to calculate the resulting decrease in net income. 3. What is the hotel's operating leverage factor when revenue is $1,700,000? 4. Use the operating leverage factor to calculate the increase in net income resulting from a 30 percent increase in sales revenue. ntage of the hotel's revenue represented by each item on the income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Show the hotel's cost structure by indicating the percentage of the hotel's revenue represented by each item on the income statement. NANTUCKET INN Contribution Income Statement Amount Percent 1,700,000 Revenue % Variable expenses 1,088,000 Contribution margin 612,000 % Fixed expenses 459,000 Net income 153,000 Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Required 4 Suppose the hotel's revenue declines by 20 percent. Use the contribution-margin percentage to calculate the resulting decrease in net income. Decrease in net income Required 3 Required 1 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the hotel's operating leverage factor when revenue is $1,700,000? Operating leverage factor KRequired 2 Required 4 Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Required 4 Use the operating leverage factor to calculate the increase in net income resulting from a 30 percent increase in sales revenue Increase in net income % Required 3 Required 4