please make final answers clear

Anderson Publishing has two divisions: Book Publishing & Magazine Publishing. The Magazine division has been losing money for the last 5 years and Anderson is considering eliminating that division. Anderson's information about the two divisions is as follows: Magazine Book Division Division Total Sales Revenue $ 7.920,000 $ 3,350,880 $11,270,860 Cost of Goods sold Variable costs 2,120,000 1,056,880 3,176,800 Fixed costs 1,089,500 1,230,980 2,320,400 Gross Profit 54,210,500 $ 1,063, 100 55,273,600 Operating Expenses Variable 147, eee 215,600 362,600 Fixed 2,928,000 1.195, 700 4,123,700 Net income $ 1,635,5ee $ (348,280) $ 1,287,300 Only 20 percent of the fixed manufacturing costs and 60 percent of the fixed operating expenses are directly attribute to each division. The remainder are common or shared between the two divisions. Required: 1. Present the financial information in the form of a segmented income statement (using the contribution margin approach) 2. What will be the impact on net income if the Magazine Division is eliminated? Required 1 Required 2 Present the financial information in the form of a segmented income stateme Book Division Magazine Total Division $ 7,920,000 $ 3,350,800 $ 11,270,800 Sales revenue $ Variable costs Cost of goods sold Operating expenses (2,120,000) (14,700) 5,785,300 Contribution margin Direct fixed costs Cost of goods sold Operating expenses (1,089,500) (2,928,000) 1,767,800 Segment margin Common fixed costs Manufacturing costs Operating expenses Net income (loss) Complete this question by entering your answers in the tabs below. Required 1 Required 2 What will be the impact on net income if the Magazine Division is eliminated? Impact on net income