Required information (The following information applies to the questions displayed below.) The Fashion Shoe Company operates a chain of women's shoe shops that carry many styles of shoes that are all sold at the same price. Sales personnel in the shops are paid a sales commission on each pair of shoes sold plus a small base, salary. The following data pertains to Shop 48 and is typical of the company's many outlets: Per Pair of Shoes $ 40.80 Selling price Variable expenses: Invoice cost Sales commission Total variable expenses $ 16.00 4.09 $ 20.00 Annual Fixed expenses: Advertising Rent Salaries Total fixed expenses $ 45.e99 31,099 155,000 $ 231,000 3. If 11,050 pairs of shoes are sold in a year, what would be Shop 48's net operating income (loss)