Contribution Income Statement and Operating Leverage Florida Berry Basket harvests early-season strawberries for shipment throughout the eastern United States in March. The strawberry farm is maintained by a permanent staff of 10 employees and seasonal workers who pick and pack the strawberries. The strawberries are sold in crates containing 100 individually packaged one-quart containers. Affixed to each one-quart container is the distinctive Florida Berry Basket logo inviting buyers to "Enjoy the berry best strawberries in the world!" The selling price is $100 per crate, variable costs are $85 per crate, and fixed costs are $275,000 per year. In the year 2013, Florida Berry Basket sold 50,000 crates. (a) Prepare a contribution income statement for the year ended December 31, 2013. HINT: Use a negative sign with both "costs" answers. FLORIDA BERRY BASKET Income Statement For the Year Ended December 31, 2013 Sales $ 0 Variable costs Contribution margin Fixed costs 0000 Net income 5 (b) Determine the company's 2013 operating leverage. (Round your answer to two decimal places.) 0 (c) Calculate the percentage change in profits if sales decrease by 10 percent. (Round your answer to one decimal place.) 0 % decrease