Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) EX 7-31 (Static) Hotel and Restaurant; Cost Structure and Operating Leverage (LO 7-2, 7-4, 7-8) Required: 1. Show the hotel's cost structure by indicating the percentage of the hotel's revenue represented by each item on the income statement. 2. Suppose the hotel's revenue declines by 15 percent. Use the contribution-margin percentage to calculate the resulting decrease in net income. 3. What is the hotel's operating leverage factor when revenue is $500,000 ? 4. Use the operating leverage factor to calculate the increase in net income resulting from a 20 percent increase in sales revenue. Complete this question by entering your answers in the tabs below. Use the operating leverage factor to calculate the increase in net income resulting from a 20 percent increase in sales revenue. Complete this question by entering your answers in the tabs below. Suppose the hotel's revenue declines by 15 percent. Use the contribution-margin percentage to calculate the resulting decrease in net income. Complete this question by entering your answers in the tabs below. Show the hotel's cost structure by indicating the percentage of the hotel's revenue represented by each item on the income statement