1) Given the following: Sales = $100,000, COGS = $60,000, SGA Expenses = $20,000, variable expense = $50,000, Fixed expense = $30,000. What is the net income? What is the breakeven point? What is the operating leverage ratio? If sales increase by 10%, what will the resulting net income be? (operating leverage = CM/NI), breakeven point = (FE/CMR) 2)Give the journal entries for the following situations: a)Ten t-shirts were sold for cash at $10 each. b)Ten t-shirts were sold for $10 each; the customer will pay tomorrow. c)The customer puts $200 down for some t-shirts that they will pick up tomorrow