Chi did franchise her restaurant concept. Because of Global Wok' success, Noodles has come on the scene as a competitor. To maintain its market share, Global Wok will have to lower its sales price to $5-50 per bowl. At the same time, Global Wok hopes to increase each restaurant's volume to 6,000 bowls per month by embarking on a marketing campaign. Each franchise will have to contribute $600 per month to cover the advertising costs. Prior to these changes, most locations were selling 5,500 bowls per month. Chi believed people would pay $6.00 for a large bowl of noodles. Variable costs would be $2.10 a bowl creating a contribution margin of $3.90 per bowl. Sung Chi estimated monthly fixed costs for franchisees at $7,800. Franchisees wanted a minimum monthly operating income of $6,500. Requirement 1. What was the average restaurant's operating income before these changes? The average restaurant's operating income before the changes is $ 13.550 . Requirement 2. Assuming that the price cut and advertising campaign are successful at increasing volume to the projected level, will the franchisees still earn their target prot of $6,500 per month? Show your calculations. Identify the formula labels and compute the operating income after the changes. Times: Contribution margin Less: Operating income