and whats the impact on net income

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 Revenue $2.820,000 53,300, 500 3 11.128,500 Cost of Goods sold Variable costs 2,020,000 1,007,000 3,027,000 Fixed costs 1,079,500 1,205,200 2,284,700 Gross Profit 34,720,500 $ 1,096,300 55,816,800 Operating Expenses Variable 137.000 200,00 337,500 Fixed 2.910.000 1,190,100 4,100,100 Net Income $1,665,500 $ (294,700) $ 1,370,800 rences 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 Present the financial information in the form of a segmented income statement (using the contribution margin approach). Ac Required 1 Required 2 Present the financial Information in the form of a segmented income statement (using the contribution margin approach). Book Division Magazine Division Total Vanable costs Direct fixed costs Common fixed costs Net income (los)