Engberg Company's most recent monthly income statement is given below: Amount Sales $96,000 100% less: Variable Cost 57,600 60% Contribution Margin 38,400 40% less: Fixed Expenses 28,000 Net Income 10,400 REQUIRED: (approximate time needed to complete the question is 20 minutes) 1. Compute the company's degree of operating leverage. (5 marks) 2. Using the degree of operating leverage, estimate the impact on net income ofREQUIRED: (approximate time needed to complete the question is 20 minutes) 1. Compute the company's degree of operating leverage. (5 marks) 2. Using the degree of operating leverage, estimate the impact on net income of a 10% increase in sales. (3 marks) 3. Verify your estimate from Requirement (2) by constructing a new income statement for the company assuming a 10% increase in sales. (7 marks)