Members of the board of directors of Safety Place 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 drop the line. Company accountants estimate dropping industrial systems will decrease fixed cost of goods sold by $83,000 and decrease fixed selling and administrative expenses by $11,000. Read the requirements. Requirement 1. Prepare a differential analysis to show whether Safety Place should drop the industrial systems product line. (Use parentheses or a minus sign to enter decreases to profits.) in operating incomeRequirements 1. Prepare a differential analysis to show whether Safety Place should drop the industrial systems product line. 2. Prepare contribution margin income statements to show Safety Place's total operating income underthe two alternatives: (a) with the industrial systems line and (b) without the line. Compare the difference between the two alternatiyes' income numbers to your answer to Requirement 1. 3. What have you learned from the comparison in Requirement 2? For the Year Ended May 31, 2024 Product Line Industrial Household Systems Systems Total Net Sales Revenue $ 300.000 $ 330,0CC $ 63003:] Cost of Goods Sold: Variable 35.000 48,0CC 83:03:] Fixed 240.000 64,0CC 304032] Total Cost of Goods Sold 2759\"\" "2-0\" 3330:\" Gross Prot 25,000 218,0CC 2:13:01\") Selling and Administrative Expenses: Variable 65,000 Fixed 41 .000 rspcc 140:0): 25,011: 68:03:} Total Selling and Administrative Expenses 105399 100,0cc 203033 Operating Income (Less) $ (81,000] $ 118,000 $ 3?.000