Problem 12-24 (Algo) Prepare a contribution margin format income statement; calculate breakeven point LO 12-7, 12-8, 12-9, 12-11 Presented here is the income statement for Fairchild Company for March: Sales $ 82,500 Cost of goods sold 41,500 Gross profit $ 41,000 Operating expenses 30,500 Operating income $ 10,500 Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 30%. Required: Rearrange the preceding income statement to the contribution margin format. Calculate operating income if sales volume increases by 8%. Calculate the amount of revenue required for Fairchild to break even.