Herp Save & El Paul Swanson has an opportunity to acquire a franchise from The Yogurt Place, Incorporated, to dispense frozen yogurt products under The Yogurt Place name. Me Swanson has assembled the following information relating to the franchise a. A suitable focation in a large shopping mall can be rented for $3,900 per month b. Remodeling and necessary equipment would cost $342,000. The equipment would have a 15-year life and a $22,800 salvage value. Straight-line depreciation would be used, and the salvage value would be considered in computing depreciation, c. Based on similar outlets elsewhere, Mr. Swanson estimates that sales would total $420,000 per year. Ingredients would cost 20% of sales. d. Operating costs would include $82,000 per year for salaries, $4,700 per year for insurance, and $39,000 per year for utilities. In addition, Mr. Swanson would have to pay a commission to The Yogurt Place, Incorporated, of 13.5% of sales. Required: 1. Prepare a contribution format income statement that shows the expected net operating income each year from the franchise outlet 2-a. Compute the simple rate of return promised by the outlet 2-b. If Mt. Swanson requires a simple rate of return of at least 18%, should he acquire the franchise? 3-a. Compute the payback period on the outlet 3-b. If Mt. Swanson wants a payback of three years or less, will he acquire the franchito? Complete this question by entering your answers in the tabs below. Reg: Reg ZA Req 28 Reg 3A Reg 30 Prepare a contribution format income statement that shows the expected net operating income each year from the franchise outlet. The Yogurt Place, Incorporated, Contribution Format Income Statement Variable expenses