Park Lane Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows Percent of Sales 100% Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount $ 142,000 56,800 85,200 23,000 $ 62,200 603 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 29% increase in sales 3. Construct a new contributton format income statement for the company assuming a 29% increase in sales