Excel Problem. Need the excel formulas and answers Please.

Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work area as indicated. Use the SUM function with col roferences to add amounts as adicated a Compute current net income for Cawiey Company Current net income $ 60,000 Using Excel For Incremental Analysis for Elimination of a Product Line PROBLEM Cawley Company makes three models of tasers. Information on the three products is alven below. Tingler Shocker Stunner 0 Sales $ 300,000 S 500,000 $ 200.000 1 Variable expenses 150,000 200,000 145,000 2 Contribution margin 150,000 300,000 55,000 -3 Fixed expenses 120.000 230,000 95,000 4 Not Income 30,000 $70,000 $40,000) IS 16 Fixed expenses consist of common costs alocated to the three products 17 based on relative sales, as well as direct fixed expenses unique to each model. The common costs will be incurred regardless of how many models 19 are produced The direct fored expenses would be eliminated if that model is 20 ans Thara tunata PARAH 21 22 Allocated fixed common costs $ 300,000 23 Direct faced expenses 24 Tingier 30,000 25 Shocker 80,000 26 Stunner 35.000 27 28 James Watt, an executive with the company, feels the stunner line should 29 be discontinued to increase the company's net income b. Compute net income by product line and in total for Cawley Company it the company discontinues the Stunner product line. (Hint: Allocate the $300,000 common costs to the two remaining product lines based on their melative ale ) Tingler Shocker Common cost allocation Sales Variable expenses Contribution margin Faced expenses Net Income Tingler $ 300,000 150,000 150,000 30.000 Shocker $ 500,000 200.000 300,000 80,000 Total $ 800,000 350.000 450.000 110,000 c. Should Cawley eliminate the Stunner product lino? Why or why not? Cawley should not eliminato the Stunnor product line because eliminating will cause net income to decline 33 34 An elimination would result in a loss of contribution margin of $ 35,000 37 38 39 40 41 42 of foed expenses smaller increase smaller decrease larger increase larger decrease Enter Answer + +