Following is the income statement for Manning Mufflers for the month of June 2024: (Click the icon to view the contribution margin income statement.) Read the requirements. OD Requirement 1. Calculate the degree of operating leverage. (Round to four decimal places.) Select the labels and enter the amounts to calculate the degree of operating leverage for Manning Mufflers. = Degree of operating leverage Requirement 2. Use the degree of operating leverage calculated in Requirement 1 to estimate the change in operating income if total sales increase by 20% (assuming no change in sales price per unit). (Round interim calculations to four decimal places and final answer to the nearest dollar.) The estimated change in operating income will be Requirement 3. Verify your answer in Requirement 2 by preparing a contribution margin income statement with the total sales increase of 20%. Manning Mufflers Contribution Margin Income Statement Month Ended June 30, 2024 Net Sales Revenue X - X Requirements Variable Costs Data table Contribution Margin Fixed Costs 1. Calculate the degree of operating leverage. (Round to four decimal places.) Manning Mufflers 2. Use the degree of operating leverage calculated in Requirement 1 to estimate Operating Income Contribution Margin Income Statement the change in operating income if total sales increase by 20% (assuming no change in sales price per unit). (Round interim calculations to four decimal Month Ended June 30, 2024 places and final answer to the nearest dollar.) Net Sales Revenue (300 units x $200 per unit) $ 60,000 3. Verify your answer in Requirement 2 by preparing a contribution margin 15,000 income statement with the total sales increase of 20% Variable Costs (300 units x $50 per unit) Contribution Margin 45,000 Fixed Costs 11,500 $ 33,500 Print Done Operating Income Print Done