need help please SalesCost of goods soldGross profitOperating expenses$61,00052,600$8,40013,500Operating loss$(5,100)Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 19%.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)?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 ARequired BRequired CRearrange the preceding income statement to the contribution margin format. $61,00052,600$ 8,40013,500$(5,100)SalesCost of goods soldGross profitOperating expensesOperating lossBased on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 19%.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)?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 ARequired BRequired CIf sales increase by 15%, what will be the firm's operating income (or loss)? (Do not round intermediate calculations.)

Contribution = Sales - Variable cost

$61,000 52,600 $ 8,400 13,500 Sales Cost of goods sold Gross profit Operating expenses Operating loss $(5,100) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 19%. 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)? c. Calculate the amount of revenue required for Big Shot to break even.

$61,000 52,600 $ 8,400 13,500 Sales Cost of goods sold Gross profit Operating expenses Operating loss $(5,100) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 19%. 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)? c. Calculate the amount of revenue required for Big Shot to break even.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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