07 2 points Anderson Publishing has two divisions: Book Publishing & Magazine Publishing. The Magazine division has been losing money for the last 5 years and Anderson is considering eliminating that division. Anderson's information about the two divisions is as follows: Magazine Book Division Division Total Sales Revenge 52,020,000 $ 3,308,500 511.120, 500 Cost of Goods sold Variable costs 2,020.000 1,007,000 3,027,000 Fixed costa 1,079,500 1.205 200 2.284.100 Gross Profit 55220.500 55,116,800 Operating Expenses Variable 137,000 200,900 337,900 Fixed 2,210,000 1.190.100 6.108.109 Net Income 3156522500 SENZO 31270,000 Book Reference Only 20 percent of the fixed manufacturing costs and 60 percent of the fixed operating expenses are directly attribute to each division. The remainder are common or shared between the two divisions Required: 1. Present the financial Information in the form of a segmented income statement (using the contribution margin approach). 2. What will be the impact on net income if the Magazine Division is eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Present the financial information in the form of a segmented Income statement (using the contribution margin approach) 5 Complete this question by entering your answers in the tabs below. 2 points Required 1 Required 2 Present the financial information in the form of a segmented income statement (using the contribution margin approach). Book Magazine Book Division Total Division $ 7.820,000 $ 3,308,500 $ 11,128,500 References Sales revenue Variable costs Cost of goods sold Operating expenses 2.020.000 137.000 1.007.000 200.900 3,027.000 337.900 Contribution margin Direct flored costs Operating expenses Segment margin Common food costs Net Income (los) Only 20 percent of the fixed manufacturing costs and 60 percent of the fixed operating expenses are directly attribute to each division. The remainder are common or shared between the two divisions. Required: 1. Present the financial Information in the form of a segmented income statement fusing the contribution margin approach). 2. What will be the impact on net income if the Magazine Division is eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What will be the impact on net income if the Magazine Division is eliminated? Impact on net income