Exercise 20-16 Your a nswer is incorrect. Try again. Cawley Company makes three models of tasers. Information on the three products is given below. Sales Variable expenses Contribution margin Fixed expenses Net income Tingler Shocker Stunner $300,000 $500,000 $200,000 150,000 200,000 145,000 300,000 120,000 230,000 95,000 $30,000 $70,000 $(40,000) 150,000 55 ,000 Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $30,000 (Tingler), $80,000 (Shocker), and $35,000 (Stunner). The common costs will be incurred regardless of how many models are produced. The other fixed expenses would be eliminated if a model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. Compute current net income for Cawley Company Net income 32500 Compute net income by product line and in total for Cawley Company if the company discontinues the Stunner product line. (Hint: Allocate the $300,000 common costs to the two remaining product lines based on their relative sales.) (Round answers to the nearest whole dollar, e.g. 5,275.) Tingler Net Income 18,000 Shocker Net Income 0,000 Total Net Income -40,000 Click if you would like to Show Work for this question: how