Clarington Company makes three models of phasers. Information on the three products is given below: Stunner Double-Set Mega-Power Sales $301,000 $451,500 $188,125 Variable expenses 154,000 190,500 142,000 Contribution margin 147,000 261,000 46,125 Fixed expenses 117,000 218,900 87,900 Net income $30,000 $42,100 ($41,775 ) Fixed expenses consist of $290,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $29,300 (Stunner), $74,600 (Double-Set), and $29,900 (Mega-Power). The common costs will be incurred regardless of how many models are produced. The other fixed expenses would be eliminated if a model is discontinued. John Liu, an executive with the company, feels the Mega-Power line should be discontinued to increase the company’s net income. Calculate current net income for Clarington Company. Current net income $ eTextbook and Media Question Part Score--/2 Calculate net income by product line and in total for Clarington Company if the company discontinues the Mega-Power product line. (Hint: Allocate the $290,000 common costs to the two remaining product lines based on their relative sales.) Stunner Double-Set Total Net income $ $ $