Please help with this question and the following requirements. Thank you!

BA-213-0-20773 - Managerial Accounting Alexander Ghossein | 05/11/20 11:14 AM Homework: Chapter 08 Graded Homework Save Score: 0 of 4 pts 2 of 6 (0 complete) HW Score: 0%, 0 of 30 pts E8-23A (similar to) s Question Help Top managers of Ohio Flooring are alarmed by their operating losses. They are considering dropping the laminate flooring product line. Company accountants have prepared the following analysis to help make this decision: (Click the icon to view the analysis.) Total fixed costs will not change if the company stops selling laminate flooring. Read the requirements. Requirement 1. Prepare an incremental analysis to show whether Ohio Flooring should discontinue the laminate flooring product line. Will discontinuing laminate flooring add $22,000 to operating income? Explain. (Enter a "0" in an input box if there is no expected change as a result of discontinuing the laminate flooring product in this scenario.) Incremental Analysis for Discontinuation Decision Total Data Table Contribution margin lost if laminate flooring product line is dropped Less: Fixed cost savings if laminate flooring product line is dropped 0 Requirements Operating income if laminate flooring is dropped Ohio Flooring Product Line Contribution Margin Income Statement For the Year 1. Prepare an incremental analysis to show whether Ohio Flooring should discontinue the laminate flooring product line. Will discontinuing laminate flooring add $22,000 to operating income? Explain. Product lines 2. Assume that the company can avoid $23,000 of fixed expenses by discontinuing the laminate flooring product line (these costs are direct fixed costs of the laminate flooring product line). Prepare an incremental Wood flooring Laminate flooring Company Total analysis to show whether the company should stop selling laminate flooring. Sales revenue $ 301,000 $ 134,000 $ 435,000 3. Now, assume that all of the fixed costs assigned to laminate flooring are direct fixed costs and can be 154,000 80,000 234,000 avoided if the company stops selling laminate flooring. However, marketing has concluded that wood flooring Less: Variable expenses sales would be adversely affected by discontinuing the laminate flooring line (retailers want to buy both from Contribution margin 147,000 $ 54,000 $ 201,000 the same supplier). Wood flooring production and sales would decline 10%. What should the company do? Less fixed expenses: Manufacturing 77,000 59,000 136,000 Print Done 56,000 17,000 73,000 Marketing and administrative 14,000 $ (22,000) $ (8,000) Operating income (loss) Print Done Choose from any list or enter any number in the input fields and then click Check