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Anderson Publishing has two divisions: Book Publishing & Magazine Publishing. The Magazine division has been losing money for the last 5 years and Anderson is considering eliminating that division. Anderson's information about the two divisions is as follows: Book Division $ 8,180,000 Hagamine Division $ 3.460.800 Total $11.640.000 Calea Blevenue Cont of Goode sold Variable costs Fixed costs Gross Profit Operating Expenses Variable Tixed Net Income 2,380,000 1.115,500 14,684,500 1,185,400 1,292,900 9 975.500 3,566,400 2,413.400 5.5,661,000 175.000 2,954.000 1,557,500 253,700 426,700 1,210,200 4.164.300 5 (487,400) 1,070,100 Only 20 percent of the fixed manufacturing costs and 60 percent of the fixed operating expenses are directly attribute to each division. The remainder are common or shared between the two divisions Required: 1. Present the financial information in the form of a segmented income statement (using the contribution margin approach 2. What will be the impact on net income if the Magazine Division is eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Present the financial information in the form of a segmented income statement (using the contribution margin approach). Book Division Magazine Division Total Variable costs Direct food costs Common foxed costs Not income (los) Required 2 > Anderson Publishing has two divisions: Book Publishing & Magazine Publishing, The Magazine division has been losing money for the last 5 years and Anderson is considering eliminating that division. Anderson's information about the two divisions is as follows: Took Division 5.8,180,000 Magazine Division 32.460.000 Total 511.640,800 Sales Revenue Cost of Goods sold Variable costs Pixed costs Gross Profit Operating Expenses Variable Fixed Net Income 2,380,000 1,115,500 $ 4,684,500 1,186, 400 1,297,900 976,500 3,566,400 2,413,400 55,661,000 5 173,000 2,954,000 $1,557,500 253,700 1,210,200 (487, 400) 426,700 4,164,200 $ 1,070,100 Only 20 percent of the fixed manufacturing costs and 60 percent of the fixed operating expenses are directly attribute to each division. The remainder are common or shared between the two divisions Required: 1. Present the financial information in the form of a segmented income statement (using the contribution margin approach), 2. What will be the impact on net income if the Magazine Division is eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What will be the impact on net income if the Magazine Division is eliminated? impact on net income