Presented here is the income statement for Fairchild Co. for March Sales Cost of goods sold Gross profit Operating expenses Operating income $80,000 42,000 $38,000 31,500 6,500 Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 27% Required a. Rearrange the preceding income statement to the contribution margin format. Sales Cost of goods sold Contribution margin Operating expenses Operating income $ 80,000 (42,000) $ 38,000 (31,500) $6,500 b. Calculate operating income if sales volume increases by 7%. (Do not round intermediate calculations.) Operating income c. Calculate the amount of revenue required for Fairchild to break-even Break-even