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 Direct materials Direct labor Income Statement-Canoe Segment Variable overhead Variable selling and administrative Total variable costs Contribution margin Fixed costs Direct Indirect Total fixed costs Net income MARINETTE COMPANY Required 1 Required 2 Sales $ 450,000 500,000 300,000 200,000 FynenseS' 375,000 300,000 $2,000,000 1. If canoes are discontinued, calculate the net income lost or gained. 2. Should management discontinue the manufacturing of canoes? 1,450,000 550,000 Complete this question by entering your answers in the tabs below. 675,000 $(125,000) If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blink. Enter zeros where appropriate.) Keep the department Eliminate the department

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. 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. If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blnk. Enter zeros where apgropriate.)