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 $3,400,000 Sales Variable costs Direct materials Direct labor Variable overhead Variable selling and administrative Total variable costs Contribution margin Fixed costs Direct Indirect Total fixed costs $ 730,000 780,000 580,000 340, e00 2,430,000 970,000 655,000 580,000 1,235,000 $ (265,000) Net income 1. If canoes are discontinued, calculate the net income lost or gained. Keep the department Eliminate the department Sales Expenses: 1. If canoes are discontinued, calculate the net income lost or gained. Keep the department Eliminate the department Sales Expenses: Total expenses Net income (loss) 2. Should management discontinue the manufacturing of canoes? Yes No