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

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The following income statement was drawn from the records of Gibson, a merchandising firm: Required a. Reconstruct the income statement using the contribution margin format. o. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net income Gibson will earn if sales increase by 10 percent. Reconstruct the income statement using the contribution margin format. Complete this question by entering your answers in the tabs below. Calculate the magnitude of operating leverage. Use the measure of operating leverage to detern Gibson will earn if sales increase by 10 percent. (Round your intermediate calculations and "Ope decimal places. Round the "Net income" value to nearest whole dollar.)

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