The CVP income statements shown below are available for Concord Company and Sheridan Company. Concord Co. Sheridan Co. Sales $494,000 $494,000 Variable costs 233,000 45,000 Contribution margin 261,000 449,000 Fixed costs 161,000 349,000 Net income $100,000 $100,000 (a1) Compute the degree of operating leverage for each company. (Round answers to 2 decimal places, e.g. 1.15.) Degree of Operating Leverage Concord Sheridan (b) Assuming that sales revenue increases by 10%, prepare a variable costing income statement for each company. Concord Company Sheridan Company $ $ $