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For a recent year, McDonald's Company-owned restaurants had the following sales and expenses (in millions): Sales $20,200 Food and packaging $8,082 Payroll 5,100 Occupancy (rent,

For a recent year, McDonald's Company-owned restaurants had the following sales and expenses (in millions): Sales $20,200 Food and packaging $8,082 Payroll 5,100 Occupancy (rent, depreciation, etc.) 3,508 General, selling, and administrative expenses 2,900 $19,590 Income from operations $610 Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) $fill in the blank 1 million b. What is McDonald's contribution margin ratio? fill in the blank 2 % c. How much would income from operations increase if same-store sales increased by $1,200 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million. $fill in the blank 3 million

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