9 of 15 (0 complete) HW Score: 0%, 0 of 72 pts Score: 0 of 3 pts S7-13 (similar to) Question Help O Fairy Rain Gear sells monogrammed umbrellas on Etsy. Fairy Rain Gear is currently selling 1,200 umbrellas a month at a price of $34 per umbrella. The variable cost of each umbrella sold includes $7 to purchase the merchandise from suppliers and a $5 commission paid to Etsy. Fixed costs are $3,200 per month. The company is considering raising the selling price of each umbrella to $39, but believes the number of umbrellas sold would drop by 35% as a result of the price increase. Should Fairy Rain Gear raise the selling price of its umbrellas? Begin by preparing the contribution margin income statement at the current selling price of $34 per umbrella. Fairy Rain Gear Contribution Margin Income Statement