Oriole Manufacturing Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $194,200 and the following divisional results: Division 1 11 MA IV Sales $507.900 $416.900 $315.000 $ 179,400 Cost of goods sold 281,100 241,000 272.400 151,200 Selling and administrative expenses 65,200 73.100 68,200 72.800 Income (loss) from operations $161,600 $102.800 $(25,600) $(44,600) The analysis reveals the following percentages of variable costs in each division: 1 11 IV Cost of goods sold 68% 92% 74% 92% Selling and administrative expenses 38 48 65 70 Discontinuance of any division would save 50% of the fixed costs and expenses for that division. Top management is very concerned about the unprofitable divisions (111 and IV). The consensus is that the company should discontinue one or both of these divisions. Prepare a condensed income statement in columns for Oriole Manufacturing, assuming division IV is eliminated. Use the CVP format. Division IV's unavoidable fixed costs are allocated equally to the continuing divisions. (Enter loss using either a negative sign preceding the number eg.-45 or parentheses eg. (45). While alternate approaches are possible, irrelevant fixed costs should be included in both options when solving this problem.) ORIOLEMANUFACTURING COMPANY CVP Income Statement Divl Div II Div II $ $ $ $ Prepare a condensed income statement in columns for Oriole Manufacturing, assuming division IV is eliminated. Use the CVP format. Division IV's unavoidable fixed costs are allocated equally to the continuing divisions. (Enter loss using either a negative sign preceding the number eg.-45 or parentheses eg. (45). While alternate approaches are possible, irrelevant fixed costs should be included in both options when solving this problem.) ORIOLEMANUFACTURING COMPANY CVP Income Statement Divl Div II Div III Total $ $ $ $ $ $ $ $