Exercise 20-16 cawley company makes three models of tasers. information on the three products is given below. tingler shocker stunner sales $300,900 $497,900 $199,900 variable expenses 153,100 201,800 136,200 contribution margin 147,800 296,100 63,700 fixed expenses 116,616 225,278 92,206 net income $31,184 $70,822 $(28,506) fixed expenses consist of $290,800 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $29,000 (tingler), $80,300 (shocker), and $34,000 (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. (a) compute current net income for cawley company. net income $ (b) compute net income by product line and in total for cawley company if the company discontinues the stunner product line. (hint: allocate the $290,800 common costs to the two remaining product lines based on their relative sales.) (round answers to the nearest