5 Required information The following information applies to the questions displayed below.) The Fashion Shoe Company operates a chain of women's shoe shops that carry many styles of shoes that are all sold at the same price. Sales personnel in the shops are paid a sales commission on each pair of shoes sold plus a small base salary. The following data pertains to Shop 48 and is typical of the company's many outlets: Per Pair of Shoes Selling price $ 25.00 Variable expenses: Invoice cost Sales commission Total variable expenses $ 11.50 3.50 $ 15.00 Annual ances Fixed expenses: Advertising Rent Salaries Total fixed expenses 544,000 34,000 170,000 $248,000 3. If 24,000 pairs of shoes are sold in a year, what would be Shop 48's net operating income foss)