Problem 12-21 Prepare a contribution margin format income statement; calculate break-even point LO 7, 8, 9, 11 Presented here is the income statement for Big Shot, Inc., for the month of May: Sales $ 60,500 Cost of goods sold 52,100 Gross profit $ 8,400 Operating expenses 15,700 Operating loss $ (7,300 ) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 16%. Required: a. Rearrange the preceding income statement to the contribution margin format. b. If sales increase by 15%, what will be the firm's operating income (or loss)? (Do not round intermediate calculations.) c. Calculate the amount of revenue required for Big Shot, Inc., to break-even.