Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format Income statement follows: Percent of Sales 100% 40% Amount Sales $138,000 Variable expenses 55,200 Contribution margin 82,800 Fixed expenses 16,000 Net operating income $ 66,800 60% Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company atsuming a 24% increase in sales. Complete this question by entering your answers in the tabs below. Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 24% 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 I decimal places.) Degree of operating leverage Required 1 Required 2 > degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales 3. Construct a new contribution format income statement for the company assuming a 24% increase in sales. as Complete this question by entering your answers in the tabs below. Required 2 Required 1 Requffed 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating income of a 24% 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).) Net operating income by % Chec LUE LHD YUCLIWY CHERY you alwEID LIIC LOVO Veruv Required 1 Required 2 Required 3 Construct a new contribution format income statement for the company assuming a 24% increase in sales. Engberg Company Contribution Income Statement Amount Percent of Sales % 5 % %