Veronica Mars, a recent graduate of Bell's accounting program, evaluated the operating performance of Crane Company's six divisions. Veronica made the following presentation to Crane's board of directors and suggested the Percy Division be eliminated. "If the Percy Division is eliminated," she said, "our total profits would increase by $25,700." The Other Five Divisions Percy Division Total Sales $1,663,000 $ 100,400 $ 1,763,400 Cost of goods sold 977,000 76,200 1,053,200 Gross profit 686,000 24,200 710,200 Operating expenses 528,400 49,900 578,300 Net income $ 157,600 $(25,700) $ 131,900 In the Percy Division, cost of goods sold is $ 59,100 variable and $ 17,100 fixed, and operating expenses are $ 30,500 variable and $ 19,400 fixed. None of the Percy Division's fixed costs will be eliminated if the division is discontinued. Is Veronica right about eliminating the Percy Division? Prepare a schedule to support your answer. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net Income Increase (Decrease) Continue Eliminate Sales $ 100,400 $ 0 $ -100,400 Continue Eliminate Increase (Decrease) Sales $ 100,400 $ 0 $ - 100,400 Variable costs Cost of goods sold Operating expenses Total variable Contribution margin Fixed costs Cost of goods sold Operating expenses Total fixed Net income (loss) $ $ $ Veronica is