Paul Hulse, the owner of the Hulsey Restaurant in West Auckland recently attended a management training seminar in which he was shown the benefits of using the contribution format to prepare income statements. He now wants to see his restaurant's income statement prepared using the contribution margin format. In the year ending 31 st December 20X1, the restaurant sold 20,000 covers with an average cover price of $25. Variable food and drink costs average $5 per cover and the head chef's salary includes a performance-related component giving him a commission of $0.8 per cover sold. All of the hotel's remaining costs can be viewed as fixed. The restaurant's income statement presented in conventional format for the year ended 31 st December 20X1 is as follows: a. Using the contribution margin format, prepare the Hulsey Restaurant's income statement for the year ending 31 st December 201. b. What is the restaurant's current breakeven point? c. If the volume of sales were to increase by 10 per cent, by how much would the restaurant's profit increase? d. If revenue next year reached $600,000, what would the restaurant's profit be? e. If the restaurant were to increase average menu prices by 10 per cent but was able to maintain the current volume of covers sold, what would be the impact on profit