Edward's Repair Shop has a monthly target operating income of $30,000. Variable expenses are 40% of sales, and monthly fixed expenses are $7,500. Read the requirements Requirement 1. Compute the monthly margin of safety in dollars if the shop achleves its inconie goal Begin by identifying the formula to compute the margin of safety. Requirements 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. 2. Express Edward's margin of safety as a percentage of target sales. 3. What is Edward's operating leverage factor at the target level of operating income? 4. Assume that the company reaches its target. By what percentage will the company's operating income fall if sales volume declines by 8%