Sandhill Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $216,600 and the following divisional results.

		Division
		I		II		III		IV
Sales		$250,000		$198,000		$499,000		$447,000
Cost of goods sold		195,000		195,000		298,000		250,000
Selling and administrative expenses		70,400		63,000		57,000		49,000
Income (loss) from operations		$ (15,400)		$ (60,000)		$144,000		$148,000

Analysis reveals the following percentages of variable costs in each division.

		I			II			III			IV
Cost of goods sold		74	%		92	%		78	%		73	%
Selling and administrative expenses		37			57			51			59

Discontinuance of any division would save 50% of the fixed costs and expenses for that division. Top management is very concerned about the unprofitable divisions (I and II). Consensus is that one or both of the divisions should be discontinued.

Prepare a columnar condensed income statement for Sandhill Company, assuming Division II is eliminated. Division IIs unavoidable fixed costs are allocated equally to the continuing divisions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

SANDHILL COMPANY CVP Income Statement For the Quarter Ended March 31, 2022
		Divisions
		I		III		IV		Total
Sales		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Variable costs
Cost of goods sold		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Selling and administrative		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Total variable costs		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts
Contribution margin		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part
Fixed costs
Cost of goods sold		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Selling and administrative		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Total fixed costs		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts		enter a subtotal of the previous two amounts
Income (loss) from operations		$enter a net income or loss amount		$enter a net income or loss amount		$enter a net income or loss amount		$enter a net income or loss amount