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. Sales Variable costs MARINETTE COMPANY Income Statement-Canoe Segment Direct materials Direct labor Variable overhead Variable selling and administrative Total variable costs Contribution margin Fixed costs Direct Indirect Total fixed costs Net income $2,900,000 $ 630,000 680,000 480,000 290,000 2,080,000 820,000 555,000 480,000 1,035,000 $ (215,000) 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.)