Question 7 (2.5 points) Ink Blot Technologies produces several types of computer printers. Its least expensive printer - Model U15 - is losing money as its technology is becoming dated. Ink Blot is considering eliminating Model J5. Information on LJ5 is as follows: Model LS Sales $280,000 Variable costs 165.000 Contribution margin $105.000 Fixed costs 140.000 Operating income ($35,000) If Model U5 is eliminated, customers will not switch to other models Ink Blot sells because the other models are very expensive. Eliminating Model LJ5 will allow Ink Blot to reduce fixed costs by $18,000. By how much will Ink Blot's income change if Model U5 is eliminated? A) Income will decrease by $97,000 B) Income will decrease by $123,000 C) Income will increase by $18.000 D) Income will increase by $122.000 Question 8 (2.5 points) Which of the following statements about management accounting information is TRUE? A) It may include financial information, non-financial quantitative information and qualitative information. B) It is prepared for external decision makers. OC) It follows standards and concepts required by the Management Accounting Standards Board. D) Accuracy is more important than timeliness