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 ellminating that division. Anderson's information about the two divisions is as follows Magasine Book Division Division Total Sales Revenue $ 7,980,000 53,376,200 $11,256,200 Cost of Goods sold Variable costs 2,180,000 1,086,700 3,266,700 Fixed costs 1,895, See 1.246,400 2, 41,900 Gross Profit $4,704,500 $ 1.04, 100 $ 5,747,600 Operating Expenses Variable 153,000 224,400 372,400 Fixed 2,934.000 1,199.100 4,133, 100 Net Income $1,617,500 $ (380,400 $ 1,237,100 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 of 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). Book Division Magazine Division Total Required 1 Rexed 2 Present the financial information in the form of a segmented income statement (using the contribution margin approach), Book Division Magazine Division Total Common fixed costs Cost of goods sold Manufacturing costs Non operating expenses Common fixed costs Net income foss) 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 Manufacturing costs Non operating expenses Operating expenses Sales revenue Service revenue Common fixed costs Not income (lossy 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). Book Division Magazine Division Total Vanable con Direct fixed costs Common fixed costs Net incendios Required 2 > 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 of 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? unpact on not income