Outdoor Luggage Corporation produces hard-sided luggage for sports equipment Financial data for three of the corporation's most popular products appear below. Ski Guard Golf Guard Fishing Total Guard $ 924,888 $264,800 $ 406,080 $ 254, eee 48e, 113,000 288, eee 159,800 444,600 151,000 198,eee 95,000 Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses Total fixed expenses Net operating income (loss) 70, 2ee 8,888 40,600 2e, see 44,000 20,600 7,400 16,000 116, 100 40,700 38,888 36,60 184,808 52,820 81, 2ee 58,800 415,100 122,980 168, eee 124,288 $ 28,900 $ 28,100 $ 30,eee $(29, 280) "Allocated on the basis of sales dollars. Management is concerned about the continued losses shown by the fishing guards and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce fishing guards has no resale value and does not wear out Required: 1. What is the financial advantage (disadvantage) per quarter of discontinuing the fishing guard model? 2. Should the production and sale of fishing guards be discontinued? 3. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines