GHA 11. Question 4. please format the exact same

GHA Ch 11 Seved Help Save & Exit Submit Check my work 4 The following income statement was drawn from the records of Joel Company, a merchandising firm. cBook Hint JOEL COMPANY Income Statement For the Year Ended December 31 Sales revenue (2,000 units * $125) Cost of goods sold (2,000 units * $65) Gross margin Sales commissions (104 of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (2,000 units x $1.00) Net income Print $ 250,000 (130,00D 120,000 (25,000) (30,000) (20,000) (24,000) (2,000) $ 19,000 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 Joel will earn if sales increase by 10 percent Complete this question by entering your answers in the tabs below. Req A A Req B and C Reconstruct the income statement using the contribution margin format. JOEL COMPANY Income Statement GHA Ch 11 A Saved Help Save & Exit Submit Check my work 4 compiere tnis question by entering your answers in the tads pelow. Reg A Req B and C eBook Reconstruct the income statement using the contribution margin format. Hint Print JOEL COMPANY Income Statement For the Year Ended December 31 Less: Variable costs Less: Fixed costs Reqa Req B and C > Check my work 4. Required eBook 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 Joel will earn if sales increase by 10 percent. Hint Print Complete this question by entering your answers in the tabs below. Req A Req B and C Calculate the magnitude of operating leverage. Use the measure of operating leverage to determine the amount of net income Joel will earn if sales increase by 10 percent. (Round your intermediate calculations and the final answer for "Operating leverage" to 2 decimal place.) b. Operating leverage c. Net Income