Godfroy Men's Clothing's revenues and cost data for 2017 are as follows: B (Click the icon to view the data.) Mr. Godfroy, the owner of the store, is unhappy with the operating results. An analysis of other operating costs reveals that it includes $25,000 variable costs, which vary with sales volume, and $5,000 (fixed) costs. Read the requirements. Determine the formula to calculate the contribution margin, then enter the amounts in the formula to compute the contribution margin of Godfroy Men's Clothing. = Contribution margin Requirement 2. Compute the contribution margin percentage. Determine the formula to calculate the contribution margin percentage, then enter the amounts in the formula to compute the contribution margin percentage. (Enter the result as a whole percentage, XX%.) = Contribution margin percentage % Requirement 3. Mr. Godfroy estimates that he can increase units sold, and hence revenues by 25% by incurring additional advertising costs of $8,000. Calculate the impact of the additional advertising costs on operating income. Determine the formula to solve for the amount then complete the formula. Change in operating income Requirement 4. What other actions can Mr. Godfroy take to improve operating income? To improve operating income, Mr. Godfroy must find ways to TOTT HIT IV moyo PUU UPIO TYT! +rari Traa 1 HT Revenues $ 500,000 225,000 Cost of goods sold (all variable costs) Gross margin Operating costs: 275,000 Salaries fixed $ Sales commissions (10% of sales) Depreciation on equipment and fixtures Store rent ($3,000 per month) 160,000 50,000 18,000 36,000 30,000 Other operating costs 294,000 $ (19,000) Operating income (loss)