Nunez Corporation runs two convenience stores, one in Connecticut and one in Rhode Island Operating income for each store in 2014 is as follows: (Click to view the operating income for the stores.) The equipment has a zero disposal value. In a senior management meeting, Maria Lopez, the management accountant at Nunez Corporation, makes the following comment, "Nunez can increase its profitability by closing down the Rhode Island store." Is Maria Lopez Correct? Read the requirements P Requirement 1. By closing down the Rhode Island store, Nunez can reduce overall corporate overhead costs by $46,000. Calculate Nunez's operating income in closes the Rhode Island store. Is Maria Lopez's statement about the effect of closing the Rhode Island store correct? Explain II Begin by calculating Nunez's operating income if it closes the Rhode Island store. (Enter losses in revenues as a negative amount. Enter a "o" if the cost is not relevant If the net effect is an operating loss enter the amount with parentheses or a minus sign.) (Loss in Revenues) Savings in Costs Revenues 810000 Operating costs Cost of goods sold 650000 Lease rent (renewable each year) Labor costs (paid on an hourly basis) Depreciation of equipment Utilities (electricity, heating) Corporate overhead C I O of 1 attemp Nunez Corporation runs two convenience stores, one in Connecticut and one in Rhode Island Operating income for each store in 2014 is as follows: (Click to view the operating income for the stores.) The equipment has a zero disposal value. In a senior management meeting, Maria Lopez, the management accountant at Nunez Corporation, makes the following comment, "Nunez can increase its profitability by closing down the Rhode Island store." Is Maria Lopez Correct? Read the requirements P Requirement 1. By closing down the Rhode Island store, Nunez can reduce overall corporate overhead costs by $46,000. Calculate Nunez's operating income in closes the Rhode Island store. Is Maria Lopez's statement about the effect of closing the Rhode Island store correct? Explain II Begin by calculating Nunez's operating income if it closes the Rhode Island store. (Enter losses in revenues as a negative amount. Enter a "o" if the cost is not relevant If the net effect is an operating loss enter the amount with parentheses or a minus sign.) (Loss in Revenues) Savings in Costs Revenues 810000 Operating costs Cost of goods sold 650000 Lease rent (renewable each year) Labor costs (paid on an hourly basis) Depreciation of equipment Utilities (electricity, heating) Corporate overhead C I O of 1 attemp