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The following income statement was drawn from the records of Rooney, a merchandising firm: Requlred a. Reconstruct the income statement using the contribution margin format.

image text in transcribed The following income statement was drawn from the records of Rooney, a merchandising firm: Requlred a. Reconstruct the income statement using the contribution margin format. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net income Rooney will earn if sales increase by 20 percent. Complete this question by entering your answers in the tabs below. Reconstruct the income statement using the contribution margin format

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