Anderson Publishing has two divisions: Book Publishing & Magazine Publishing. The Magazine division has been losing money for the last 5 years and Anderson is considening eliminating that division. Anderson's Information about the two divisions is as follows Hagazine Division Sales Revenue Cost of Goods sold Variable costs Fixed costs Book Division $5,000,000 $ 3,384,600 Total $ 11,384,600 2,200,000 1,097,500 1,096,700 1,251,500 Gross Profit $4,702,500 3,296,700 2,349,000 $ 1,036,400 $ 5,738,900 Operating Expenses Variable Fixed Net income 155,000 2,936,000 $1,611,500 227,300 1,200,200 382,300 4,136,200 S (391,100) $ 1,220,400 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). Sales revenue Book Division 8,000,000 $ Magazine Division Total 3.384,600 $11,384,600 Variable costs Cost of goods sold: 219,500 Operating expenses 2,231,400 Direct fixed costs Common foxed costs Net income (loss) 250,300 720,120 469,800 2.481.720 A