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. $2,000,000 MARINETTE COMPANY Income Statement-Canoe Segment Sales Variable costs Direct materials $ 450,000 Direct labor 500,000 Variable overhead 300,000 Variable selling and administrative 200,000 Total variable costs Contribution margin Fixed costs Direct 375,000 Indirect 300,000 Total fixed costs 1,450,000 550,000 675,000 $(125,000) Net income 1. If canoes are discontinued, calculate the net income lost or gained. If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blank. Enter zeros where appropriate.) Keep the department Eliminate the department Sales Expenses: Total expenses Net income (loss) 0 0