ACG 2071-For a recent year, Wicker Company-owned restaurants
For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions):Sales$19,900Food and packaging$5,183Payroll5,000Occupancy (rent, depreciation, etc.)6,217General, selling, and administrative expenses2,900$19,300Income from operations$600Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses.a. What is Wicker Company’s contribution margin? Round to the nearest million. (Give answer in millions of dollars.)$ millionb. What is Wicker Company’s contribution margin ratio? Round to one decimal place.%c. How much would income from operations increase if same-store sales increased by $1,200 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million.$ million