Please show work.

The following CVP income statements are available for Ducks Corp. and Kings, Inc Sales revenue Variable costs Contribution margin Fixed costs Net income Ducks Corp $700,000 350,000 350,000 175,000 $175,000 Kings Inc $700,000 210,000 490,000 $175,000 Instructions (a) Compute the degree of operating leverage for each company. (b) Assume that sales revenue decreases by 20%. Prepare a CVP income statement for each company