Xavier's Sporting Goods is a retailer of sporting equipment. Last year, Xavier's sales revenues totalled $5,700,000. Total expenses were $2,860,000. Of this amount, approximately $1,608,000 were variable, while the remainder were foxed. Since Xavier's Sporting Goods oflers thousands ol diflerent products, its mariagers preler lo calculate the break-even point in terms of s-iles dollars rather than units. Requirements Requirement 1. What is Xavier's Sporting Goods' current operaing inoome? (Prepare a contribution margin format income statement). Complete the contribution margin income statement. (Enter losses with a minus sign or parentheses.) Requirements 1. What is Xavier's current operating income? (Prepare a contribution margin format income statement.) 2. What is Xavier's contribution margin ratio? 3. What is Xavier's break-even point in sales dollars? (Hint: The contribution margin ratio calculated in requirement 2 is already weighted by Xavier's actual sales mix.) 4. Xavier's top management is deciding whether to embark on a $250,000 advertising campaign. The marketing firm has projected annual sales volume to increase by 20% as a result of this campaign. Assuming that the projections are correct, what effect would this advertising campaign have on Xavier's annual operating income