Book Division IS 7.800.000 Magazine Division $ 3325.400 $ Tota 11,185,400 Sales Revenue Cost of Goods sold Variable costs Food costs Gross Profit Operating Expenses Variable Fboed Net income 2.000.000 1083 500 4,716 500 1.020.000 1,215,500 1,083,000 3,098 000 2,200,000 5,700, 500 5 $ 141.000 2.922.000 1.653,500 200,800 1.192.400 (310,200) 347 800 4.114.400 1337300 $ $ Only 20 percent of the food manufacturing costs and 60 percent of the fooed 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), Book Division Magazine Division Total Sesrovence Variable costs Cost of goods sold Operating expenses Operating expenses Contribution margin Direct fixed costs Common CON Net income CH d e W ill Time harataarch