Welch Men's Clothing's revenues and cost data for 2020 are as follons: (Click the icen to view the data) Mr. Weich, the owner of the store, is unhappy with the operaling results. An analysis of other coerating costs roveals that it includes $30,000 variable costs, which vary wht sales volume, and $15,000 (ficed) costs. Read the tequirements. Requirement 1. Compute the contrbuticn margin of Welch Meris Cloting Determine the foemula to calculate the contribution margin, then enter the anounts in the formula to compute the contribubon margin of Weich Men's Clothing. Data table Requirements 1. Compute the contribution margin of Welch Men's Clothing. 2. Compute the contribution margin percentage. 3. Mr. Welch 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. 4. What other actions can Mr. Welch take to improve operating income