Based on the income statements shown below, which division has the cost structure with the highest operating leverage?

	Soft Drinks				Bottled Water				Fruit Juices
Revenue	$	69,000			$	69,000			$	69,000
Variable costs		(17,000	)			(8,500	)			(37,000	)
Contribution margin		52,000				60,500				32,000
Fixed costs		(42,640	)			(52,640	)			(9,360	)
Net income	$	9,360			$	7,860			$	22,640

• The three divisions have identical operating leverage.

• Soft Drinks.

• Fruit Juices.

• Bottled Water.