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2 As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Pete's, a chain

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2 As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Pete's, a chain of western stores. Sneaky Pete's is organized into two divisions: Mountain and Valley. You are told that corporate overhead costs are allocated to divisions based on relative sales. ats Required: a. Complete the income statements for both divisions and the corporation as a whole. (Enter all values as positive value. Round your answers to 1 decimal place.) Book Mountain Division Valley Division Corporate Paint Sales Cost of sales Gross margin SGSA Allocated corporate costs Operating income Tax expense (25%) After-tax income Betonces 18.01 72.0 $ 1344 Gross margin percentage Operating margin Profit margin 06.001% 26.001% 19.50 52.50 21.20 15.90 56.00 22.40 16.B01

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