Need correct answers to Excel problem. (include excel formulas)

Excel Problem. Need the excel formulas and answers Please. Student Work Area Required: Provide input into cols shaded in yellow in this template. Use mathematical fomulas with col references to the Problem or work area as indicated. Use the SUM tunction with col roterences to add amounts as Indicator Using Excel For Incremental Analysis for Elimination of a Product Line PROBLEM Cawley Company makes three models of tasem. Information on the three products is even below Tinglor Shocker Stunner 0 Sales $ 300,000 $500,000 $ 200.000 1 Varable expenses 150.000 200,000 145.000 2 Contribution margin 150,000 300,000 55.000 3 Fored expenses 120.000 230,000 95,000 .4 Not income 230,000 70.000.000 15 26 Faxed expenses consist of common costs alocated to the three products 17 based on relative sales as well as direct food expenses unique to each model. The common costs will be incurred regardless of how many models are produced. The directed expenses would be ominated that models 20 That 21 22 Allocated fred common costs $ 300,000 Direct foxed expenses 24 Tingler 30.000 25 Shock 80,000 26 Stunner 35.000 27 28 James Watt, an executive with the comoany, feels the stunner line should 29 be discontinued to increase the company's net income Compute curent net income for Cawley Company Current net income $ 60,000 bi Compute net income by product ine and in total for Cawley Company the company discontinues the Stunner product line. (Hint: Allocate the $300.000 common costs to the two remaining product lines based on that we Tingle Shocker Common cost allocation Total Sales Variable expenses Contribution margin Fred expenses Net income Tingler $ 300,000 150 000 150.000 30.000 Shocker $ 500.000 200.000 300.000 80.000 5 800.000 350.000 450.000 110.000 0. Should Caway oiminto the Stunner product ine? Why or why not? Cowley should not inte the Stunner product in because eliminating wil cause net income to decine An omination would result in loss of contribution margin of $35,000 smaller increase of food expenses smaller decrease larger increase Jammer dacron with