jast 3 years and Alider nsidering eliminating that division. Anderson's information about the two divisions is as follows: Magazine Division $ 3,460,800 Total $11,640,800 Sales Revenue Cost of Goods sold Variable costs Fixed costs Gross Profit Operating Expenses Variable Fixed Net income Book Division $ 8,180,000 2,380,000 1,115,500 $ 4,684,500 173,000 2,954,000 1,186,400) 1,297,900 976,500 253,700 1,210,200 3,566,400 2,413,400 $ 5,661,000 426,700 4,164,200 $ 1,557,500 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?