Current Attempt in Progress Crane Company has four operating divisions. During the first quarter of 2022. the company reported aggregate income from operations of $194,000 and the following divisional results Division HI Sales IV $446.000 $251.000 $195.000 $502.000 205,000 189.000 302.000 Cost of goods sold Selling and administrative expenses Income (los) from operations 251.000 54.000 76,000 63,000 60,000 $(30,000) $157.000 $140.000 5141.000 Analysis reveals the following percentages of variable costs in each division 1 11 III TV 68 96 90 90 79 % 73 Cost of goods sold Selling and administrative expenses 39 57 49 62 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 il and In Consensus is that one or both of the divisions should be discontinued II Top management is very concerned about the unprofitable divisions (I and 11). Consensus is that one or both of the divisions should be discontinued. (a) Compute the contribution margin for Divisions and II. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Division Division 11 Contribution margin $ $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (61) Prepare an incremental analysis concerning the possible discontinuance of Division (Enter negative amounts using either a negative sign preceding the number .. .45 or parentheses e 3. (451) Continue Net Income Increase (Decreased Eliminate $ Contribution margin Fixed costs Cost of goods sold Selling and administrative Totalfixed expenses Income (loss) from operations $ $ e Textbook and Media (52) Prepare an incremental analysis concerning the possible discontinuance of Division II (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses 3. (45).) Continue Eliminate Net Income Increase (Decreasel Contribution margin $ Fixed costs Cost of goods sold Selling and administrative Total fixed expenses Income (loss) from operations $ e Textbook and Media (53) What course of action do you recommend for each division? Division 1 Division 11 e eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer UIT G Prepare a columnar condensed income statement for Crane Company, assuming Division Il is eliminated, Division d'unavoidable fixed costs are allocated equally to the continuing divisions. (Enter negative amounts using either a negative sign preceding the number e-3.-45 or parentheses es. (45).) CRANE COMPANY CVP Income Statement For the Quarter Ended March 31, 2022 Divisions IV Sales 5 Variable costs Cost of goods sold Seling and administrative Total varlable costs Contribution margin Fixed costs Cost of goods sold Selling and administrative Total fixed costs $ Income foss) from operations