Members of the board of directors of Control One have received the following operating income data for the year ended May 31, 2024: (Click the icon to view the operating income data.) Members of the board are surprised that the industrial systems product line is not profitable. They commission a study to determine whether the company should the line. Company accountants estimate that dropping industrial systems will decrease fixed cost of goods sold by $82,000 and decrease fixed selling and administrative expenses by $10,000. Read the requirements. Requirement 2. Prepare contribution margin income statements to show Control One's total operating income under the two alternatives: (a) with the industrial systems line and (b) without the line. Compare the difference between the two alternatives' income numbers to your answer to Requirement 1. (Use parentheses c a minus sign for an operating loss.) Control One Contribution Margin Income Statement For the Year Ended May 31, 2024 Totals With Totals Without Change if Industrial Help me solve this Demodocs example Get more help Clear all Check answer embers of the board of directors of Control One have received the following operating income data for the year end (Click the icon to view the operating income data.) embers of the board are surprised that the industrial systems product line is not profitable. They commission a study e line. Company accountants estimate that dropping industrial systems will decrease fixed cost of goods sold by $82 dministrative expenses by $10,000. ead the requirements. Contribution Margin Fixed Costs: 478,000 243,000 235,000 Manufacturing 308,000 68000 158000 Selling and Administrative 69,000 14000 35000 Total Fixed Costs 377,000 92000 193000 $ 101,000 Operating Income (Loss) 226000 $ 143,000 Help me solve this Demodocs example Get more help Control One Income Statement For the Year Ended May 31, 2024 Product Line Industrial Household Systems Systems Total Net Sales Revenue $ 340,000 $ 360,000 $700,000 Cost of Goods Sold: Variable Fixed Total Cost of Goods Sold 36,000 42,000 78,000 240,000 68,000 308,000 276,000 110,000 386,000 Print Done Cost of Goods Sold: Variable 36,000 42,000 78,000 Fixed 240,000 68,000 308,000 Total Cost of Goods Sold 276,000 110,000 386,000 Gross Profit 64,000 250,000 314,000 Selling and Administrative Expenses: Variable 69,000 75,000 144,000 Fixed 45,000 24,000 69,000 Total Selling and Administrative Expenses 114,000 99,000 213,000 $ Operating Income (Loss) (50,000) $ 151,000 $ 101,000 Print Done