Exercise 20-16 Cawley Company makes three models of tasers. Information on the three products is given below Sales Variable expenses Contribution margin Fixed expenses Net income Tingler Shocker Stunner $298,600 $497,700 $204,500 137,400 67,100 96,235 $26,167$68,368 $(29,135) 152,500 198,500 146,100 119,933 230,832 299,200 Fixed expenses consist of $303,100 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $29,500 (Tingler), $80,100 (Shocker), and $34,300 (Stunner). The common costs will be incurred regardless of how many models are produced. The other fixed expenses would be eliminated if a model is phased out. ames Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income Compute current net income for Cawley Company Net income ames Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income Compute current net income for Cawley Company. Net income Compute net income by product line and in total for Cawley Company if the company discontinues the Stunner product line. (Hint: Allocate the $303,100 common costs to the two remaining product lines based on their relative sales.) (Round answers to the nearest whole dollar, e.g. 5,275.) Tingler Net Income Shocker Net Income Total Net Income