Hi! each question below has an answer (Bold). Could you please explain to me why those are the answers and why the others (each) are wrong? I am preparing for my final and just want to make sure I really understand why and why not of each of them. Thanks.

7) The condensed income statement for a business for the past year is presented as follows: Product G H Total Sales Less variable costs $200,000 120,000 $ 80,000 25,000 Contribution margin $180,000 $320,000 160,000 200,000 $20,000 $120,000 30,000 40,000 10,000 80,000 $700,000 480,000 $220,00 95,000 125,000 Less fixed costs Income (Loss) from Operations 55,000 Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year. The discontinuance would have no effect on the total fixed costs and expenses or on the sales of Products F and H. What is the amount of change in net income for the current year that will result from the discontinuance of Product G? a) $10,000 increase b) $20,000 increase c) $10,000 decrease *d) $20,000 decrease