The Sterling Tire Company’s income statement for 20X1 is as follows:   STERLING TIRE COMPANY Income Statement For the Year Ended December 31, 20X1 Sales (38,000 tires at $96 each) $ 3,648,000 Variable costs (38,000 tires at $48)   1,824,000 Fixed costs   580,000 Earnings before interest and taxes (EBIT) $ 1,244,000 Interest expense   59,000 Earnings before taxes (EBT) $ 1,185,000 Income tax expense (30%)   355,500 Earnings after taxes (EAT) $ 829,500     a. Compute the degree of operating leverage. (Round your answer to 2 decimal places.)    b. Compute the degree of financial leverage. (Round your answer to 2 decimal places.)    c. Compute the degree of combined leverage. (Round your answer to 2 decimal places.)

Presented here is the income statement for Big Sky Incorporated for the month of February: Sales $ 60,000 Cost of goods sold 51,900 Gross profit $ 8, 100 Operating expenses 15,200 Operating loss $ (7,100) Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 19%. Required: Rearrange the preceding income statement to the contribution margin format. If sales increase by 10%, what will be the firm's operating income (or loss)? Calculate the amount of revenue required for Big Sky to break even.

Please answer all 3 parts accordingly:   Joyner Company’s income statement for Year 2 follows:   Sales $ 709,000 Cost of goods sold 76,000 Gross margin 633,000 Selling and administrative expenses 150,800 Net operating income 482,200 Nonoperating items:   Gain on sale of equipment 5,000 Income before taxes 487,200 Income taxes 146,160 Net income $ 341,040   Its balance sheet amounts at the end of Years 1 and 2 are as follows:     Year 2 Year 1 Assets     Cash $ 313,940 $ 57,200 Accounts receivable 222,000 143,000 Inventory 319,000 279,000 Prepaid expenses 11,000 22,000 Total current assets 865,940 501,200 Property, plant, and equipment 640,000 508,000 Less accumulated depreciation 165,400 130,900 Net property, plant, and equipment 474,600 377,100 Loan to Hymans Company 48,000 0 Total assets $ 1,388,540 $ 878,300 Liabilities and Stockholders' Equity     Accounts payable $ 315,000 $ 254,000 Accrued liabilities 43,000 51,000 Income…

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