Question: Presented here is the income statement for Big Sky Incorporated for the month of February: Sales$ 6 1 , 5 0 0 Cost of goods

Presented here is the income statement for Big Sky Incorporated for the month of February: Sales$ 61,500Cost of goods sold54,200Gross profit$ 7,300Operating expenses13,300Operating loss$ (6,000) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 20%. Required: Rearrange the preceding income statement to the contribution margin format. If sales increase by 10%, what will be the firm's operating income (or loss)? Calculate the amount of revenue required for Big Sky to break even.

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