Clarington Company makes three models of phasers. Information on the three products is given below: Stunner Double-Set Mega-Power Sales $330,000 $495,000 $206,250 Variable expenses 145,000 190,000 135,000 Contribution margin 185,000 305,000 71,250 Fixed expenses 110,000 289,000 103,000 Net income $75,000 $16,000 ($31,750 ) Fixed expenses consist of $370,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $29,000 (Stunner), $74,000 (Double-Set), and $29,000 (Mega-Power). The common costs will be incurred regardless of how many models are produced. The other fixed expenses would be eliminated if a model is discontinued. John Liu, an executive with the company, feels the Mega-Power line should be discontinued to increase the company's net income. Your answer is correct. Calculate current net income for Clarington Company. Current net income $ eTextbook and Media Question Part Score 59250 * Your answer is incorrect. Calculate net income by product line and in total for Clarington Company if the company discontinues the Mega-Power product line. (Hint: Allocate the $370,000 common costs to the two remaining product lines based on their relative sales.) Stunner Net income S Double-Set Total 2/2