Question: Presented here is the income statement for Big Sky Incorporated for the month of February: Sales $ 61,500 Cost of goods sold 50,500 Gross profit

Presented here is the income statement for Big Sky Incorporated for the month of February: Sales $ 61,500 Cost of goods sold 50,500 Gross profit $ 11,000 Operating expenses 14,900 Operating loss $ (3,900) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 18%. Required: Rearrange the preceding income statement to the contribution margin format. If sales increase by 15%, what will be the firm's operating income (or loss)? Calculate the amount of revenue required for Big Sky to break even

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