Charlevoix Company produces three products: Torch, Elk, and Walloon. A segmented income statement follows: Direct fixed expenses consist of deprecation and advertising. All deprecation on the equipment is dedicated to the product lines. Nonet of the equipment can be sold. Assume that each of the three products has a different marketing campaign whose advestising would be eliminated if the associated product were dropped Required: 1. Conceptual Connection: Estmate the mpact on profit that would result from dropping Walloon. Enter anount in fult, rather thain in thousands. For example, "15000" rather than " 15 ". 5 2. Conceptual Connection: Should Charlevos keep or drop Walloon? Direct fixed expenses consist of deprecation and advertising. All depreciation on the equipment is dedicated to the product lines. None of thelfouipment can be sold. Assurne that each of the three products has a different makneting campaipr whose advertising would bo elminated if the assocated product were dropped. Required rather than "15", 1 2. Conceptual Connection, Shiould Charievoix keep or drop Walloon? 3. Conceptual Connection: Charlevoix's CFo decided to canduct an enpirical study of prevous years' adveitising cost data to better inderstand the factors that have caused this important expense to vary from year to year: Arielly explain the data analytic type reperesented by the CFO's study of advertising cost. [Defer to Exhitar 2.2] The empirical study of past advertising cost represents an example of a data analvic