Godfrey Men's Clothing's revenues and cost data for 2017 are as follows: (Click the icon to view the data.) Mr. Godfroy, the owner of the store, is unhappy with the operating results. An analysis of other operating costs reveals that it includes $10,000 variable costs, which vary with sales volume, and $15,000 (fixed) costs. Read the requirements Requirement 1. Compute the contribution margin of Godfroy Men's Clothing. Determine the formula to calculate the contribution margin. Then enter the amounts in the formula o campule the contribution margin of Godfrey Men's Clothing. = Contribution margin Requirement 2. Compute the contribution margin percentage. Determine the formula to calculate the contribution margin percentage, then enter the amounts in the formula to compute the contribution murgin percentage. (Enter the result as a whole percentage, XX%.) = Contribution margin percentage = % + Requirement 3. Mr. Godfroy estimates that he can increase units sold, and herice: revenues by 20% by incurring additional advertising costs of $4,000. Calculate the impact of the additional advertising costs on aperating incxume. Determine the formula to solve for the amount then complete the formula Change in operating Income Data Table = Requirement 4. What other actions can Mr. Godfroy take to improve operating income? Revenues $ 500,000 225,000 To improve operating income, Mr. Godfroy must find ways to Cost of goods sold (all variable costs) Gross margin Operating costs: 275,000 $ 200.000 Salaries fixed Sales commissions (11% of sales) Depreciation on equipment and fixtures Stare rent (54,000 per month) Other operating costs 55.000 17.000 42.000 56.000 375,000 $ (100,000) Operating income (loss)