Oriole Company has four operating divisions. During the first quarter of 2022, the company reported aggre operations of $208,400 and the following divisional results. Division 11 III IV Sales $245,000 $198,000 $501,000 $450,000 Cost of goods sold 203,000 189,000 297,000 254,000. Selling and administrative expenses 74,600 60,000 62,000 46,000 Income (loss) from operations $ (32,600) $ (51,000) $142,000 $150,000 Analysis reveals the following percentages of variable costs in each division. IV Cost of goods sold 66% 88 % 78 % 73 % Selling and administrative expenses 40 58 48 57 Discontinuance of any division would save 50% of the fixed costs and expenses for that division.