This Question: 14 pts 4 of 10 (1 complete) This Test: 100 pts possible Ortiz 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 Ortiz Corporation, makes the following comment, "Ortiz can increase its profitability by closing down the Rhode Island store" is Maria Lopez Correct? Read the requirements S Requirement 1. By closing down the Rhode Island store, Ortiz can reduce overall corporate overhead costs by $39,000 Calculate Orte's operating income if it closes the Rhode Island store. Is Maria Lopez's statement about the effect of closing the Rhode Island store correct? Explain Begin by calculating Ortiz's operating income if it closes the Rhode If the net effect is an operating loss enter the amount with parenthe Data Table (Loss in Rd Savings Connecticut Store Rhode Island Store Revenues 1,130,000 $ 800,000 Revenues Operating costs Operating costs Cost of goods sold Cost of goods sold 725,000 630,000 Lease rent (renewable each year) Lease rent (renewable each year) 93,000 80,000 Labor costs (paid on an hourly basis) Labor costs (paid on an hourly basis) 47,000 47,000 Depreciation of equipment Depreciation of equipment 20,000 24,000 Utilities (electricity, heating) Utilities (electricity heating) 49,000 42,000 Corporato overhead Allocated corporate overhead 53,000 37,000 987,000 860,000 Enter any number in the edit fields and then continue to the nex Total operating costs 143,000 $ (60.000) Operating income (loss) }