Question: # 1 - The most recent information for Booties Balloons is as follows: Sales $125,000; Variable Operating Expenses $80,000; Gross Profit $45,000; Fixed operating costs

# 1 - The most recent information for Booties Balloons is as follows: Sales $125,000; Variable Operating Expenses $80,000; Gross Profit $45,000; Fixed operating costs $20,000; NOI $25,000; Interest $15,000; Earnings before taxes $10,000; Taxes @ 40% $4,000; and Net Income $6,000. What is Booties Balloons degree of total leverage? Be sure to show your work and round your answer to one decimal to earn full points.

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