Saved Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount $ 132,000 52,800 79,200 16,000 $ 63,200 Percent of Sales 100% 40% 60% Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 24% increase in sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's degree of operating leverage? (Round your answer to 2 decimal places) Degree of operating leverage Required 2 > lo o Saved Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income stateme Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount $ 132,800 52,800 79,200 16,000 $ 63,200 Percent of Sales 100% 40% 60% Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 24% increase in sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating Income of a 24% Increase in sales. (Do not round Intermediate calculations. Round your percentage answer to 2 decimal places (ie 0.1234 should be entered as 12.34).) No Operating income by Prey 8 of 11 Next > Saved wwwy 2. Using the degree of operating leverage, estimate the impact on net operating income of a 24% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 24% increase in sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Construct a new contribution format income statement for the company assuming a 24% increase in sales. Engberg Company Contribution Income Statement Amount Percent of Sales % % %