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. HARINETTE COMPANY Income Statement-Canne Segment Sales $3,000,000 Variable costs Direct materials $ 650,00 Direct labor 700,000 Variable overhead 500.000 Vorlable selling and administrative 300,000 Total variable costs 2,150,000 Contribution margin 850,000 Fixed costs Direct 575,000 Indirect 580,000 Total fixed costs 1.075,000 Net Income 5 (225,000) 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 cell bank Enter zeros where appropriate) Keep the department Eliminate the department Sales Expenses Total expenses Net Income (0) 0 $