Problem 12-21 Prepare a contribution margin format income statement calculate break-even point LO 7, 8, 9,11 Presented here is the income statement for Big Shot, Inc., for the month of May: Sales Cost of goods sold Gross profit Operating expenses Operating loss $62,000 51,000 14,400 (3,400) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 17%. Required: a. Rearrange the preceding income statement to the contribution margin format Sales Variable expenses Contribution margin Fixed expenses Operating loss $6,200 6,200 6,200 b. If sales increase by 10%, what will be the firm's operating income (or loss)? (Do not round intermediate calculations.) c. Calculate the amount of revenue required for Big Shot, Inc., to break-even