As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Petes, a chain of western stores. Sneaky Petes is organized into two divisions: Mountain and Valley. You are told that corporate overhead costs are allocated to divisions based on relative sales.

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.)

	Mountain Division	Valley Division	Corporate
Sales
Cost of Sales
Gross Margin
SG&A
Allocated Corporate Costs	19.2		64.0
Operating Income
Taxes (20%)
After-tax Income
Gross Margin %	62.00%	42.00%	48.00%
Operating Margin	22.00%	22.00%	22.00%
Profit Margin	17.60%	17.60%	17.60%

Please include computations. Thank you in advance.

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