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Barbour Corporation, located in Buffalo, New York, is a retailer of hightech products and is known for its excellent quality and innovation. Recently, the rm conducted a relevant cost analysis of one of its product lines that has only two products, Tl and T2. The sales for TZ are decreasing and the purchase costs are increasing. The rm might drop TZ and sell only T'r. Barbour allocates xed costs to products on the basis of sales revenue. When the president of Barbour saw the income statements {see below}, he agreed that TZ should be dropped. If T2 is dropped, sales of T'J are expected to increase by10% next year, but the firm's cost structure will remain the same. ..r-1. _ _ .1722 _ Sales $245,899 $295,309 Variable costs: Cost of goods sold $9,868 148,860 Selling 3. administrative 19,806 59,305 Contribution margin $14?,660 $ 89,606 Fixed expenses: Fixed corporate costs 59,309 84,306 Fixed selling and administrative 21,366 38,860 Total fixed expenses 5 99,966 $114,809 Operating income $ 57.399 $05,309} | Required: 1. Find the expected change in annual operating income by dropping T2 and selling only T'l. 1 By what percentage would sales from T1 have to increase in order to make up the nancial loss from dropping TZ? {Enter your answer as a percentage rounded to 2 decimal places [i.e. 0.1234 should be entered as 12.34}.J 3. What is the required percentage increase in sales from T'l to compensate for lost margin from T2, iftotal xed costs can be reduced by $53,000? {Enter your answer as a percentage rounded to 2 decimal places {i.e. 0.1234 should be entered as 1234).}