Exercise 2-13A (Algo) Using contribution margin format income statement to measure the magnitude of operating leverage LO 23,24 The following income statement was drawn from the records of Walton Company, a merchandising firm: 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 Walton will earn if sales increase by 10 percent. Complete this question by entering your answers in the tabs below. Reconstruct the income statement using the contribution margin format. Complete this question by entering your answers in the tabs below. Reconstruct the income statement using the contribution margin format. 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 Walton will earn if sales increase by 10 Answer is not complete. Complete this question by entering your answers in the tabs below. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net income Walton will earn if sales increase by 10 Note: Round your intermediate calculations and "Operating leverage" answer to 2 decimal places. Round the "Net income" value to nearest whole dollar