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Return to question Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Percent of Sales 1008 40% 608 Amount $ 138,000 55,200 82,800 21,000 $ 61,800 Sales Variable expenses Contribution margin Fixed expenses Net operating income 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 23% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 23% increase in sales. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's degree of operating leverage? (Round your answer to 2 decimal places.) Degree of operating leverage 133.98 x KERequirodia Required 2 > Required 1 Required 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating income of a 23% increase in sales. (Do no round intermediate calculations. Round your percentage answer to 2 decimal places (i.e 0.1234 should be entered as 12 Net operating income increases by 26.80 % Required 1 Required 2 Required 3 Construct a new contribution format income statement for the company assuming a 23% increase in sales. Engberg Company Contribution Income Statement Amount Percent of Sales Sales 25 % $ X 165,600 66,240 X Variable expenses 25 X % Contribution margin 99,360 0 % Fixed expenses 21,000 $ 78,360 Net operating income