D Question 30 4.7 pts An income statement for Crandall's Bookstore (a retail company) for the first quarter of the current year is presented below: Sales $800,000 Cost of Goods Sold ... 560.000 Gross Margin 240,000 Operating expenses Selling $98,000 Administrative 98.000 196,000 Operating income $ 44,000 On average, a book sells for $50. Variable selling expenses are $5.50 per book, with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales revenue, with the remainder being fixed. If book sales increase by 10% during the coming year due to inased demand, by how much should Crandall's operating income increase? $80,000 increase $24,000 increase O $4,400 increase $68,800 increase $12.800 Increase