In November, Lance Company sold 20,000 units at $10.00 each. Fixed cost amounted to $60,000 and variable cost are $4.00 per unit produced. Answer the following questions for Lance Company showing all your work and calculations: a. Prepare an Income Statement for November that shows the contribution margin. (5 marks) b. Compute the break-even point in both sales and units. Use formulas, do make another income statement. (5 Marks) C. Compute the degree of operating leverage. (2.5 Marks) d. Sales are estimated to increase by 2% in December. What will be the expected sales in dollars? You must use the operating leverage to calculate this. Do not make another income statement. (2.5 Marks)