The following income statement was drawn from the records of Benson Company, a merchandising firm: BENSON COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (7,000 units x $162) $1,134,000 Cost of goods sold (7,000 units X $88) (616,000) Gross margin 518,000 Sales commissions (108 of sales) (113,400) Administrative salaries expense 82,000) Advertising expense (35,000) Depreciation expense (46,000) Shipping and handling expenses (7,000 units x $3) (21,000) Net income $ 220,600 Required 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 Benson will earn if sales increas Complete this question by entering your answers in the tabs below. Required A Req B and C Reconstruct the income statement using the contribution margin format. BENSON COMPANY Income Statement For the Year Ended December 31, 2018 Less: Variable costs 0 Less: Fixed costs $ 0 Recu Req Band C > CH neyuncu 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 Benson will earn if sales increase by 10 p Complete this question by entering your answers in the tabs below. Required A Req B and C the amount of net income Calculate the magnitude of operating leverage. Use the measure of operating leverage to determir Benson will earn if sales increase by 10 percent. (Round intermediate and "Operating leverage" answer to 2 decimal places.) times b. Operating leverage c. Net income (Required A Honde De 22 af 27 Nevt