HighTech Inc. and Old Time Co. compete within the same industry and had the following operating results in 2019: Sales Variable expenses Contribution margin Fixed expenses Operating income HighTech Inc. $2,600,000 520,000 $2,080,000 1,720,000 $ 360,000 Old Time Co. $2,600,000 1,560,000 $1,040,000 680,000 $ 360,000 Required A Required B Required C1 Required C2 Required D Required E Required F Required G Required H Required I Calculate the amount of operating income (or loss) that you would expect each firm to report in 2020 if sales were to increase by 20%. (Losses should be indicated by minus sign.) Operating income (or loss) HighTech Inc. Old Time Co. $ 776,000 $ 568,000 Required A Required B Required C1 Required C2 Required D Required E Required F Required G Required H Required I Calculate the amount of operating income (or loss) that you would expect each firm to report in 2020 if sales were to decrease by 20%.(Losses should be indicated by minus sign.) Operating income (or loss) High Tech Inc. Old Time Co. $ $ (56,000) 152,000 Required A Required B Required C1 Required C2 Required D Required E Required F Required G Required H Required I Using the amounts computed in requirement c, calculate the increase or decrease in the amount of operating income expected in 2020 from the amount reported in 2019. Increase (Decrease) with 20% sales increase Increase (Decrease) with 20% sales decrease High Tech Inc. Old Time Co. Please answer D. The answers for C1 and C2 are correct