The Following Income Statement Is Provided for Grant,Inc What Is This Company's Magnitude of Operating Leverage?
A) 0

The following income statement is provided for Grant,Inc. $\begin{array}{c}\begin{array}{|l|}\hline \text {Sales revenue \( (1,500(a, \$ 30 \) per unit) }\\\hline \text {Variable costs \( (1,500 @ \$ 14 \) per unit) }\\\hline \text {Fixed costs}\\\hline \text {Net income}\\\hline \end{array}\begin{array}{r|}\hline\$ 55,000 \\\hline21,000 \\\hline16,000 \\\hline \$ \quad 8,000\\\hline \end{array}\end{array}$
What is this company's magnitude of operating leverage?

A) 0.33
B) 1.31
C) 2.00
D) 3.00