Cole Petroleum has spent $204,000 to refine 60,000 gallons of petroleum distillate, which can be sold for $6.30 per gallon. Alternatively. Cole can process the distillate further and produce 55,000 gallons of cleaner fluid. The additiona processing will cost $1.70 per gallon of distillate. The cleaner fluid can be soid for $9.10 per gallon. To sell cleaner fluid, Cole must pay a sales commission of 50.12 per gallon and a transportation charge of 50.18 per gallon Read the requirements. Requirement 1. Fill in the diagram for Cole's alternatives: Requirement 2. Identify the sunk cost is the sunk cost relevant to Cole's decision? The is a sunk cost that differ between the alternatives of selling as is or processing further Consequently, this sunk cost is to the sell-or-process-turther decision. Requirement 3. Should Cole sell the petroleum distillate or process it into cleaner fluid? Show the expected net revenue difference behween the two alternatives. (For the difference in total not revenve, use a parentheses or at minus sign if processing further will decrease total net revenue)