Requirement 1. What is FleetFleet Foot's current margin of safety in units, in sales dollars, and as a percentage? Explain the results. Begin by identifying the formula to compute the margin of safety in units. Expected sales in unitsBreakeven sales in units=Margin of safety in units Part 2The margin of safety in units is5,500.Part 3Next, identify the formula to compute the margin of safety in dollars. Expected sales in dollarsBreakeven sales in dollars=Margin of safety in dollars Part 4The margin of safety in dollars is$55,000.Part 5Now identify the formula to compute the margin of safety as a percentage. Margin of safety Margin of safety in units-:Expected sales in units=as a percentage Part 6(Round the percentage to the nearest hundredth percent, X.XX%.)The margin of safety percentage is68.75%.Part 7Requirement 2. At this level of sales, what is FleetFleet Foot's operating leverage factor? If volume declines by 2525% due to increasing competition, by what percentage will the company's operating income decline?Begin by identifying the formula to compute the operating leverage factor at the target level of operating income. Contribution margin-:Operating income=Operating leverage factor Part 8(Round your answer to two decimal places.)The operating leverage factor is .