FULL SCREEN PRINTER VERSION BACK Exercise 21-16 Cawley Company makes three models of tasers. Information on the three products is given below. Tingler Shocker Stunner $300,000 $500,000 $200,000 Sales Variable expenses 150,000 190,000 135,000 Contribution margin 150,000 310,000 65,000 Fixed expenses Net income 132,000 220,000 93,000 $18,000 $90,000 $(28,000) Fixed expenses consist of $290,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $45,000 (Tingler), $75,000 (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 Compute net income by product line and in total for Cawley Company if the company discontinues the Stunner product line. (Hint: Allocate the $290,000 te costs to the two lines based on their relative sales.) (Round