Suppose Grainy Day is considering discontinuing its bran flakes product line. Astume that during the past year, the bran flakes' product line inceme statement showed the foltowing: Vien the income statement dota. Vew the addficonal information. If the company decides to discontinue the product Ine, what wit happen to the companys operating income? Should Grainy Daydiscontinue the bran flakesproduct line? Becin by preoarng a contribution margin income stalement for the bran flakes' product Ine. (Use a minus sign or parentheses to anter a loss.) Additional information Foved manufacturing ovehead costs acoount for 40% of the cost of goods, while Fowed manufacturing oventead costs acoount for 40% of the cost of gocds; whie only 30% of the operating expenses are ficed. Since the bran flakes line is just one of the company/s cersal operations, only $755,000 of direct focod costs (the majority of which is advertising) wil be eliminated if the product line is discontinued. The remainder of the foxed costs wil still be incurred by the company. Income statement data