Terry's Towing Service 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 achieves its income goal Begin by identifying the formula to compute the margin of safety Margin of safety in dollars (Round intermediate calculations up to the nearest whole dollar and your final answer to the nearest whole dollar) The margin of safety is Requirement 2. Express Terry's margin of safety as a percentage of target sales Begin by identifying the formula to compute the margin of safety as a percentage of target sales Margin of safety percentage (Round the percentage to the nearest whole percent) The margin of safety percentage is % of target sales Requirement 3. What is Terry's operating leverage factor at the target level of operating incomo? Begin by identifying the formula to compute the operating leverage factor at the target level of operating income Operating loverage factor Requirement 3. What is Terry's operating leverage factor at the target level of operating income? Begin by identifying the formula to compute the operating leverage factor at the target level of operating income. Operating loverage factor (Round your answer to two decimal places.) The operating leverage factor is Requirement 4. Assume that the company reaches its target By what percentage will the company's operating income fail if sales volume declines by 12% (Round your answer to two decimal places, XXXX%) Il volume decreases 12%, operating income will decrease Choose from any list or enter any number in the input fields and then continue to the next