Ocean Hotel has been incurring losses for the past few years in the lobby gift shop. In an attempt to improve the overall financial performance of the company, the general manager is considering closing the space. The contribution margin income statement for the gift shop is shown below.

Ocean Hotel Gift Shop Contribution Margin Income Statement For the Year Ended July 31, 2020
Revenue	$195,000
Less: Variable Costs	$157,000
Contribution Margin	$38,000
Less: Fixed Costs	$90,000
Income from Operations	$-52,000

The following additional information is also available regarding the gift shop.

• If the shop is closed, 70% of the segments fixed costs will remain with the company. The remaining 30% of the fixed costs will no longer be incurred by the company if the shop is closed.
• If the shop is closed, the contribution margin will increase by a total of $23,000 in other segments of the hotel.

Calculate the following items:
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values or items that are subtracted.

Lost Contribution Margin - Gift Shop	$Answer
Avoidable Fixed Costs	$Answer
Incremental Contribution Margin - Other Segments	$Answer
Incremental Effect	$Answer