Question: I only need help with part 2 and 3 Problem 11-2 10 points The following income statement was drawn from the records of Pliny Incorporated,

I only need help with part 2 and 3

I only need help with part 2 and 3 Problem 11-2 10

Problem 11-2 10 points The following income statement was drawn from the records of Pliny Incorporated, a manufacturing business. REQUIRED 1. Reconstruct the income statement using the contribution margin format. Assume COGS is variable and Advertising fixed. Don't forget to categorize all of the other expenses (sales commissions, admin salaries, depreciation and shipping \& handling) into fixed and variable 2. Calculate the magnitude of operating leverage. 3. Use the measure of operating leverage to determine the amount of net income Pliny will earn if sales increase by 20

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