Assume a restaurant owner is showing a positive operating income in 9 of 12 months of operation and is considering whether to close during 3 months of the off-season. Given the information below, do you recommend he close or stay open the last 3 months?LO1

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9 months 3 months Total Sales revenue Variable costs Fixed costs Total costs $378,000 $22,000 $400,000 $283,500 $16,500 300,000 45,000 $328,500 15,000 $31,500 Operating income $ 49,500 ($ 9,500) 60,000 $360,000 $ 40,000