1. Prepare condensed divisional income statements for the year ended December 31, 2017, assuming that there were no service departmen cost allocations. Free Ride Bike Company Divisional Income Statements For the Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Income from operations Road Bike Division Mountain Bike Division Road Bike Mountain Bike Division Division Sales $6,000,000 $6,300,000 Cost of goods sold 2,640,000 2,961,000 Operating expenses 2,400,000 2,457,000 Invested assets 5,000,000 4,200,000