Brislin Company has four operating divisions. During the first quarter of 2020, the company reported aggregate income from operations of $207,800 and the following divisional results. Division Sales Cost of goods sold Selling and administrative expenses Income (loss) from operations 1 II III IV $247.000 $198.000 $497,000 $449,000 195.000 195.000 301,000 247.000 74.200 57.000 60,000 54,000 $(22,200) $ (54.000) $136,000 $148,000 Analysis reveals the following percentages of variable costs in each division 1 II III IV Cost of goods sold 73% 90 % 77% 76% Selling and administrative expenses 40 57 52 58 Discontinuance of any division would save 50% of the fixed costs and expenses for that division. Top management is very concerned about the unprofitable divisions (I and II). Consensus is that one or both of the divisions should be discontinued Compute the contribution margin for Divisions I and II. (Enter negative amounts using either a negative sign preceding the number 3.-45 or parentheses 2.3 (45).) Division Division 11 Contribution margin $ Continue Eliminate Net Income Increase (Decrease) $ Contribution margin Fixed costs Cost of goods sold Selling and administrative Total fixed expenses Income (loss) from operations $ Prepare an incremental analysis concerning the possible discontinuance of Division II. (Enter negative amounts using either a negative sign preceding the number e-8. -45 or parentheses e.s. (45).) Continue Eliminate Net Income Increase (Decrease) Contribution margin Fixed costs Cost of goods sold Selling and administrative Totalfoxed expenses Income (loss) from operations S $ What course of action do you recommend for each division? Division Division 11 Prepare a columnar condensed income statement for Brislin Company, assuming Division II is eliminated. Division Il's unavoidable fixed costs are allocated equally to the continuing divisions. (Enter negative amounts using either a negative sign preceding the number e.8. -45 or parentheses e.g. (45).) BRISLIN COMPANY CVP Income Statement For the Quarter Ended March 31, 2020 Divisions III IV Total Sales $ $ Variable costs Cost of goods sold Selling and administrative Total variable costs Contribution margin Fixed costs Cost of goods sold Selling and administrative Total fixed costs Income (loss) from operations $ $