Dove Rain Gear sells monogrammed umbrellas on Etsy. Dove Rain Gear is currently selling 1,000 umbrellas a month at a price of $36 per umbrella. The variable cost of each umbrella sold includes $12 to purchase the merchandise from suppliers and a $5 commission paid to Etsy. Fixed costs are $3,000 per month. The company is considering raising the selling price of each umbrella to $44, but believes the number of umbrellas sold would drop by 15% as a result of the price increase. Should Dove Rain Gear raise the selling price of its umbrellas? Begin by preparing the contribution margin income statement at the current selling price of $36 per umbrella. Dove Rain Gear Contribution Margin Income Statement Next, calculate Dove Rain Gear's operating income if the changes are made. (Use parentheses or a minus sign for an operating loss.) If the changes are made, Dove Rain Gear's operating income (loss) will be Dove Rain Gear raise the selling price of its umbrellas because its operating income will by Choose from any list or enter any number in the input fields and then continue to the next question. 0 Time Remaining: 03:56:14 Next