PLEASE FILL IN THE BLANKS

First Nation Travel uses the contribution margin income statement internally. First Nation's first-quarter results follow. First Nation's relevant range is between sales of $205,000 and $464,000. : (Click the icon to view the data.) Requirements 1. What is First Nation Travel's current margin of safety (in dollars)? 2. What is First Nation Travel's current operating leverage factor? 3 If sales volume increases 11% next quarter, by what percentage will First Nation Travel's operating income increase? What will the new operating income be? Requirement 1. What is First Nation Travel's current margin of safety (in dollars)? First, identify the formula to compute the margin of safety. Margin of safety in dollars The margin of safety is $ Requirement 2. What is First Nation Travel's current operating leverage factor? First, identify the formula to compute the operating leverage factor. = Operating leverage factor The operating leverage factor is (Round your answer to three decimal places.) Requirement 3. If sales volume increases 11% next quarter, by what percentage will First Nation Travel's operating income increase? What will the new operating income be? (Round your answer to two decimal places.) The operating income will increase by%. What will the new operating income be? (Round your answer to the nearest whole dollar.) The new operating income will be $ First Nation Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 312,500 Less: Variable expenses 123,000 Contribution margin $ 189,500 Less: Fixed expenses 154,000 $ 35,500 Operating income The break-even sales in dollars is $252,460