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 $2,200,000 Variable costs Direct materials Direct labor Variable overhead Variable sell ing and administrative s 490,000 540,000 340,000 220,000 Total variable costs Contribution margin Fixed costs Direct Indirect Total fixed costs 1,590,000 610,000 415,000 340,000 755,000 Net income (145,000) 1, If canoes are discontinued, calculate the net income lost or gained. Keep the department Eliminate the department Sales $ 2,200,000 Expenses Direct materials 490,000 540,000 Direct labor Drev 4 of 7 Next 1. If canoes are discontinued, calculate the net income lost or gained. Keep the department $ Eliminate the department Sales 2,200,000 Expenses: Direct materials 490,000 Direct labor 540,000 Variable overhead 340,000 Variable selling and administrative costs 220,000 Direct fixed costs 415,000 Indirect fixed costs 340,000 340,000 Total expenses 2.345.000 340,000 Net income (loss) (145,000) (340.000) The canoe division should be: Kept If the canoe division is eliminated, income will be: 195,000 lower by $