Segmented Income Statement Knitline Inc. produces high-end sweaters and jackets in a single factory. The following information was provided for the coming year. Sweaters Jackets Sales Variable cost of goods sold Direct fixed overhead A sales commission of 5% of sales is paid for each of the two product lines. Direct fixed selling and administrative expense was estimated to be $20,000 for the sweater line and $50,000 for the jacket line. Common fixed overhead for the factory was estimated to be $45,000. Common selling and administrative expense was estimated to be $15,000. Required: $210,000 $450,000 145,000 196,000 47,000 25,000 Prepare a segmented income statement for Knitline for the coming year, using variable costing. Enter all amounts as positive numbers Prepare a segmented income statement for Knitline for the coming year, using variable costing. Enter all amounts as positive numbers. Knitline Inc. Segmented Income Statement For the Coming Year Sweaters ackets Total 21000 450.000.0 Sales Less variable expenses: Variable cost of goods sold 210,000 V 660,000 145,000 V 196,000 Variable selling expense Contribution margin Less direct fixed expenses: Direct fixed overhead Direct selling and administrative Segment margin Less common fixed expenses ommon fixed overhead Common selling and administrative Operating income