Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Sales CM ratio Product Flight Dynamic Sure Shot $680,000 $ 320,000 618 738 Total $ 1,000,000 2 Fixed expenses total $585,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1- should be entered as 12.34),) Flight Dynamic Total Company Amount Sure Shot Amount % Amount % % Sales 680,000 100.00% $ 320,000 100.00 % 1,000,000 100.00 % Variable expenses 265,200 39.00 % 86,400 27.00 % Contribution margin $ 414.800 61.00% $ 233,600 73.00 % 351,600 648,400 64.84 % 35.16 % Fixed expenses Net operating income $ 648,400 Required 2 > < Prev 4 of 4 Next Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requires 3 If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net operating income increases by Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requires 3 If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net operating income increases by