Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segment and is considering dropping that product line. The following information is available regarding its canoe segment. (Leave no cells blank. Enter zeros where appropriate.) MARINETTE COMPANY Income Statement-Canoe Segment Sales Variable costs $3,600,000 Direct materials Direct labor Variable overhead Variable selling and administrative $ 770,000 820,000 620,000 360,000 Total variable costs Contribution margin Fixed costs 2,570,000 1,030,000 Direct Indirect 695,000 620,000 Total fixed costs Net income 1,315,000 $ (285,000) 1. If canoes are discontinued, calculate the net income lost or gained Eliminate the department department Keep the Sales Expenses: Total expenses Net income (loss) 2. Should management discontinue the manufacturing of canoes? O Yes O No