Please leave Column A blank as I would like to use it for marking purposes. When Mr. Ree Active, president and chief executive of Precious Products Inc., first saw the segmented income statement below, he flew into his usual rage: "When will we ever start showing a real profit? I'm starting immediate steps to eliminate those two unprofitable lines!" Product Lines v U Sales Variable expenses Contribution margin Traceable fixed expenses* Common expenses, allocated Operating income (loss) Total $250,000 119,000 131,000 98,000 32,900 $100 $100,000 37,000 63,000 31,000 18,000 $14,000 $75,000 35,000 40,000 37,000 10,500 -$7,500 W $75,000 47,000 28,000 30,000 4,400 -$6,400 *These traceable expenses could be eliminated if the product lines to which they are traced were discontinued. Required: Recommend which segments, if any, should be eliminated. Prepare a report in good form to support your