Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Percent of Sales 100% Amount Sales $142,000 Variable expenses 56,800 Contribution margin 85,200 Fixed expenses 19,000 Net operating income $ 66,200 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. (Round your intermediate calculations to 2 decimal places. Round your percentage answer to 2 decimal places (.e.1234 should be entered las 12.34)). ........... Net operating income by % Required 3 > Required