Complete this question by entering your answers in the tabs below. Prepare a traditional income statement for the company. Complete this question by entering your answers in the tabs below. What is the firm's operating leverage for the sales volume generated during the prior year? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. Suppose sales revenue increases by 16 percent. What will be the percentage increase in net income? (Do not round intermediate calculations. Round your answer to 1 decimal place.) Exercise 7-28 Publishing; Contribution Income Statement (LO 7-7, 7-8) Europa Publications, Inc, specializes in reference books that keep abreast of the rapidly changing political and economic issues in Europe. The results of the company's operations during the prior year are given in the following table. All units produced during the year were sold. (lgnore income taxes.) Required: 1-a. Prepare a traditional income statement for the company. 1.b. Prepare a contribution income statement for the company. 2. What is the firm's operating leverage for the sales volume generated during the prior year? 3. Suppose sales revenue increases by 16 percent. What will be the percentage increase in net income? 4. Which income statement would on operating manager use to answer requirement 3 ? Complete this question by entering your answers in the tabs below. Prepare a traditional income statement for the company. Complete this question by entering your answers in the tabs below. Prepare a contribution income statement for the company. Complete this question by entering your answers in the tabs below. Which income statement would an operating manager use to answer requirement 3