Exercise 21-16 Cawley Company makes three models of tasers. Information on the three products is given below. Tingler 300,000 $500,000 $200,000 Sales Variable expenses 150,000 200,000 145,000 Contribution margin 150,000 300,000 55,000 Fixed expenses Net income 120,000 230,000 95,000 $30,000$70,000 $(40,000) Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative sales, and additional flixed expenses of $30,000 (Tingler), $80,000 (Shocker), and $35,000 (Stunner). The common costs will be incurred regardless of how many models are produced. The other fred expenses would be eliminated model is phased out James 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 s Compute net income by product line and in total for Cawley Company if the company discontinues the Stunner product line. (Hint: Allocate the $300,000 common costs to the two remaining product lines based on their relative sales.) (Round intermedlate calculations to 4 declmal places,e.g. 15.2575 and final answers to the nearest whole dollar, e.g. 5,275) Tingler Net Income Stocker Net Income Total Net Income