Crane Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $210,600 and the following divisional results. Analysis reveals the following percentages of variable costs in each division. 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. (a) Net Income Continue Contribution margin Fixed costs Cost of goods sold Selling and administrative Total fixed expenses Income (loss) from operations $ (70764) Increase (Decrease) eTextbook and Media Attempts: 1 of 5 used (b2) Your answer is correct. Prepare an incremental analysis concerning the possible discontinuance of Division II. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Continue Net Income Increase (Decrease) Prepare an incremental analysis concerning the possible discontinuance of Division II. (Enter negative amounts using either a Prepare a columnar condensed income statement for Crane Company, assuming Division II is eliminated. Division II's unavoidable fixed costs are allocated equally to the continuing divisions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Compute the contribution margin for Divisions I and II. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media Attempts: 2 of 5 used (b1) Your answer is correct. Prepare an incremental analysis concerning the possible discontinuance of Division I. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Your answer is correct. What course of action do you recommend for each division? Division I Division II eTextbook and Media Attempts: 1 of 5 used (c) Prepare a columnar condensed income statement for Crane Company, assuming Division II is eliminated. Division II's unavoidable fixed costs are allocated equally to the continuing divisions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)