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. $2,700,000 MARINETTE COMPANY Income Statement-Canoe Segment Sales Variable coats Direct materials $ 590,000 Direct labor 640,000 Variable overhead 440,000 Variable selling and administrative 270,000 Total variable costs Contribution margin Fixed costs Direct 515,000 Indirect 440,000 Total fixed costs Net Income 1,940,000 760,000 955,000 $ (195,000) 1. If canoes are discontinued, calculate the net Income lost or gained. 2. Should management discontinue the manufacturing of canoes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blank. Enter zeros where appropriate.) Required 1 Required 2 If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blank. Enter eros where appropriate.) Keep the department Eliminate the department Sales Expenses: ences Total expenses Net Income (loss) Required 2 > 440,000 Indirect Total fixed costs Net income 955,000 $ (195,000) 1. If canoes are discontinued, calculate the net Income lost or gained. 2. Should management discontinue the manufacturing of canoes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Should management discontinue the manufacturing of canoes? Should management discontinue the manufacturing of cances?