Please respond to the below questions & in your response, please note the question number and description. 1. Explain the differences between a traditional income statement and contribution format income statement. 2. Explain how changes in activity affect contribution margin and net operating income. 3. Describe what a CVP graph displays -include what is on the x and y axes - and how you would use this information in a business. 4. Describe the effects that changes to variable costs have on net operating income. 5. Describe the effects that changes to fixed costs have on net operating income. 6. Describe the effects that changes to selling price has have on net operating income. 7. Describe the effects that changes to volume sold have on net operating income. 8. Describe break-even point and show the equation to calculate it. 9. Describe margin of safety and explain why it's important to a business