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The following CVP income statements are available for Pharoah Corp. and Sheridan, Inc. Compute the degree of operating leverage for each company. (Round answers to

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The following CVP income statements are available for Pharoah Corp. and Sheridan, Inc. Compute the degree of operating leverage for each company. (Round answers to 1 decimal place, eg. 15.5.) Assume that sales revenue decreases by 20\%. Prepare a CVP income statement for each company. (Do not round intermediate calculations.)

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