Problem 12-21 Prepare a contribution margin format income statement; calculate break-even point LO 7, B, 9,11 Presented here is the income statement for Big Shot, Inc., for the month of May Sales Cost of goods sold51.000 Gross proft Operating expenses14.400 $62,000 11,000 Operating loss (3.400 Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 17 Required a. Rearrange the preceding income statement to the contribution margin format S 62,000 60 10,540 able expenses ontribution S 3,400 b. If sales increase by 10%, what wil be the firm's operating income (or loss)? (Do not round intermediate calculations. perating ncome c. Calculate the amount of revenue required for Big Shot, Inc., to break-even. Break-even