Debra King, a recent graduate of Bell's accounting program, evaluated the operating performance of Cullumber Company's six divisions. Debra made the following presentation to Cullumber's board of directors and suggested the Percy Division be eliminated. "If the Percy Division is eliminated," she said, "our total profits would increase by $26,200." The Other Percy Five Divisions Division Total Sales $1,663,000 $100,100 $1,763,100 Cost of goods sold 1,055,400 978,600 76,800 23,300 Gross profit 684,400 707,700 575,500 Operating expenses 526,000 49,500 $158,400 (26,200) $132,200 Net income In the Percy Division, cost of goods sold is $59,300 variable and $17,500 fixed, and operating expenses are $31,400 variable and $18,100 fixed. None of the Percy Division's fixed costs will be eliminated if the division is discontinued Is Debra right about eliminating the Percy Division? Prepare parentheses e.g. (45).) schedule to support your answer. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or Net Income Increase Eliminate (Decrease) Continue Sales Variable costs Cost of goods sold Operating expenses Total variable Contribution margin Fixed costs Cost of goods sold Operating expenses Total fixed Net income (loss) Debra is