Problem 12-23 (Algo) 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 Cost of goods sold Gross profit Operating expenses Operating loss $61,500 51,800 $ 9,700 13,500 $(3,800) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 18%. Required: a. Rearrange the preceding income statement to the contribution margin format. b. If sales increase by 10%, what will be the firm's operating income (or loss)? c. Calculate the amount of revenue required for Big Shot to break even. Complete this question by entering your answers in the tabs below. Required A Required B Required C Rearrange the preceding income statement to the contribution margin format. Complete this question by entering your answers in the tabs below. Required A Required B Required C If sales increase by 10%, what will be the firm's operating income (or loss)? (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the amount of revenue required for Big Shot to break even. Break even Required B Required c >