Question: Please i need help on this. Answer in table form only, just like the question for easy understanding. Thank you The following income statement was
Please i need help on this. Answer in table form only, just like the question for easy understanding. Thank you



The following income statement was drawn from the records of Rooney Company, a merchandising firm ROONEY COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (4,500 units $166) Cost of goods sold (4,500 units $83) Gross margin Sales commissions (5% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (4,500 unitsx $2) Net income $ 747,000 (373, 500) 373, 500 (37,350) (86, 000) (31,000) (49,000) (9,000) s 161,150 Requirec 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 Rooney will earn if sales increase by 10 percent
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