Countrywide Travel uses the contribution margin income statement internally. Countrywide's first-quarter results follow. Countrywide's relevant range is between sales of $203,000 and $464,000. (Click the icon to view the data.) Requirements 1. What is Countrywide Travel's current margin of safety (in dollars)? 2. What is Countrywide Travel's current operating leverage factor? 3. If sales volume increases 12% next quarter, by what percentage will Countrywide Travel's operating income increase? What will the new operating income be? Requirement 1. What is Countrywide Travel's current margin of safety (in dollars)? First, identify the formula to compute the margin of safety. Margin of safety in dollars The margin of safety is $ Requirement 2. What is Countrywide Travel's current operating leverage factor? First, identify the formula to compute the operating leverage factor. Operating leverage factor The operating leverage factor is). (Round your answer to three decimal places.) First, identify the formula to compute the operating leverage factor. Operating leverage factor The operating leverage factor is . (Round your answer to three decimal places.) Requirement 3. If sales volume increases 12% next quarter, by what percentage will Countrywide Travel's operating income increase? What will the new operating income be? (Round your answer to two decimal places.) The operating income will increase by %. What will the new operating income be? (Round your answer to the nearest whole dollar.) The new operating income will be $ ern Vant i Data Table X ? will hew ige Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 500,000 100,000 Less: Variable expenses eci: Contribution margin $ perd 400,000 150,000 hat Less: Fixed expenses $ 250,000 Operating income ned The break-even sales in dollars is $187,500. Print Done est