Exercise 15-17 (Algo) Segmented income statement LO 15-8 The president of Eaglesway incorporated attended a seminar about the contribution margin model and returned to her company full of enthusiasm about it She requested that last year's fraditional model income statement be revised, and she received the following report. The president was told that the fixed expenses of $139,000 included $99,000 that had been split evenly between divisions because they were general corporate expenses. After looking ot the statement, the president exclaimed, "I knew itl Division Y is a drag on the whole company Close it down/t Required: a. Evaluate the presidents remark b. Caiculate what the companys net income would be if Division Y were closed down c. What is the policy statement refated to the allocation of fixed expenses? Complete this question by entering your answers in the tabs below. Colculate what the company's net income would be it Division Y were dosed down