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Paul Swanson has an opportunity to acquire a franchise from The Yogurt Place, Incorporated, to dispense frozen yogurt products under The Yogurt Place name. Mr. Swanson has assembled the following information relating to the franchise: a. A suitable location in a large shopping mall can be rented for $5,100 per month. b. Remodeling and necessary equipment would cost $414,000. The equipment would have a 15 -year life and a $27,600 salvage value. Straight-line depreciation would be used, and the salvage value would be considered in computing depreciation. c. Based on similar outlets elsewhere, Mr. Swanson estimates that sales would total $540,000 per year. Ingredients would cost 20% of sales. d. Operating costs would include $94,000 per year for salaries, $5,900 per year for insurance, and $51,000 per year for utilities. In addition, Mr. Swanson would have to pay a commission to The Yogurt Place, Incorporated, of 16.0% of sales. Required: 1. Prepare a contribution format income statement that shows the expected net operating income each year from the franchise outlet. 2-a. Compute the simple rate of return promised by the outlet. 2-b. If Mr. Swanson requires a simple rate of return of at least 19%, should he acquire the franchise? 3-a. Compute the payback period on the outlet. 3-b. If Mr. Swanson wants a payback of two years or less, will he acquire the franchise? Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement that shows the expected nestoperating income each year from the franchise outlet. Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement that shows the expected net operating outlet. a. A suitable location in a large shopping mall can be rented for $5,100 per b. Remodeling and necessary equipment would cost $414,000. The equipme Straight-line depreciation would be used, and the salvage value would be c. Based on similar outlets elsewhere, Mr. Swanson estimates that sales wot sales, d. Operating costs would include $94,000 per year for salaries, $5,900 per addition, Mr. Swanson would have to pay a commission to The Yogurt Plac Required: 1. Prepare a contribution format income statement that shows the expected 2-3. Compute the simple rate of return promised by the outlet. 2-b. If Mr. Swanson requires a simple rate of return of at least 19%, should he 3-a. Compute the payback period on the outet 3-b. If Mr. Swanson wants a payback of two years or less, will he acquire the Complete this question by entering your answers in the tabs below. Compute the simple rate of retum promised by the outiet. (Round your answer c. Based on similar outlets elsewhere, Mr. Swanson estimate sales. d. Operating costs would include $94,000 per year for salar addition, Mr. Swanson would have to pay a commission to Required: 1. Prepare a contribution format income statement that show 2-a. Compute the simple rate of return promised by the outie 2-b. If Mr. Swanson requires a simple rate of return of at leas 3-a. Compute the payback period on the outlet. 3-b. If Mr. Swanson wants a payback of two years or less, wil Complete this question by entering your answers in th If Mr. Swanson requires a simple rate of return of at least 19% sales. d. Operating costs would include $94,000 per year for salaries, addition, Mr. Swanson would have to pay a commission to Th Required: 1. Prepare a contribution format income statement that shows th 2-a. Compute the simple rate of return promised by the outlet. 2-b. If Mr. Swanson requires a simple rate of return of at least 19 3-a. Compute the payback period on the outlet. 3-b. If Mr. Swanson wants a payback of two years or less, will he Complete this question by entering your answers in the ta Compute the payback period on the outlet. (Round your answer to sales. d. Operating costs would inciude $94,000 per year for salari addition, Mr. Swanson would have to pay a commission to Required: 1. Prepare a contribution format income statement that shows 2-a. Compute the simple rate of return promised by the outlet 2-b. If Mr. Swanson requires a simple rate of return of at least 3-a. Compute the payback period on the outlet. 3-b. If Mr. Swanson wants a payback of two years or less, will Complete this question by entering your answers in the If Mr. Swanson wants a payback of two years or less, will he acc