Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: 7. Sales Variable expenses Contribution margin Fixed expenses Net operating Income Amount $ 120,000 48,00 72,000 19,000 $ 53,000 Percent of Sales 100% 40% 60% 04.06-14 Required: 1. What is the company's degree of operating loverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 14% increase in sales 3. Construct a new contribution format Income statement for the company assuming a 14% increase in sales Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 What is the company's degree of operating leverage? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. 06:02 Required 1 Required 2 OOK Required 3 int What is the company's degree of operating leverage? (Round your answer to 2 decimal places.) Degree of operating leverage ences Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating income of a 14% increase in sales. (Round your intermediate calculations to 2 decimal places. Round your percentage answer to 2 decimal places (.e.1234 should be entered as 12.34).) Not operating income by Complete this question by entering your answers in the tabs below. 04:05:42 -book Required 1 Required 2 Required 3 Print Construct a new contribution format income statement for the company assuming a 14% increase in sales. stoncos Engberg Company Contribution Income Statement Amount Percent of Sales % 36