RE Question 7 Lion Corporation manufactures several types of accessories. For the year, the gloves and mittens line had sales of $502,000, variable expenses of $375,000, and fixed expenses of $140,000. Therefore, the gloves and mittens line had a net loss of $13,000. IF Lion eliminates the line, $38,600 of fixed costs will remain Prepare an analysis showing whether the company should eliminate the gloves and mittens line. (If an amount reduces the net income then enter with a negative in preceding the number e.o. 15,000 or parenthesis, . (15,000).) Continue Eliminate Net Income Increase (Decrease) Company eliminate the gloves and mittens line