Members of the board of directors of Security Check have received the following operating income data for the year ended May 31,2024 : (Click the icon to view the operating income data.) dropping industrial systems will decrease fixed cost of goods sold by $80,000 and decrease fixed selling and administrative expenses by $12,000. Read the Income Statement For the Year Ended May 31, 2024 \begin{tabular}{|c|c|c|c|c|} \hline & & Produc & ct Line & \\ \hline & & \begin{tabular}{l} Iustrial \\ Istems \end{tabular} & \begin{tabular}{c} Household \\ Systems \end{tabular} & Total \\ \hline Net Sales Revenue & $ & 360,000 & 380,000 & $740,000 \\ \hline Cost of Goods Sold: & & & & \\ \hline Variable & & 37,000 & 47,000 & 84,000 \\ \hline Fixed & & 260,000 & 63,000 & 323,000 \\ \hline Total Cost of Goods Sold & & 297,000 & 110,000 & 407,000 \\ \hline Gross Profit & & 63,000 & 270,000 & 333,000 \\ \hline Selling and Administrative Expenses: & & & & \\ \hline Variable & & 64,000 & 73,000 & 137,000 \\ \hline Fixed & & 44,000 & 26,000 & 70,000 \\ \hline Total Selling and Administrative Expenses & & 108,000 & 99,000 & 207,000 \\ \hline Operating Income (Loss) & $ & (45,000) & 171,000 & $126,000 \\ \hline \end{tabular} Requirements 1. Prepare a differential analysis to show whether Security Check should drop the industrial systems product line. 2. Prepare contribution margin income statements to show Security Check'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. 3. What have you learned from the comparison in Requirement 2