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. 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.) Sales Cost of sales Gross margin SG&A Mountain Division Valley Division Corporate Allocated corporate costs 18.0 72.0 Operating income Tax expense (@25%) After-tax income $ 134.4 Gross margin percentage 66.00% 52.50 % 56.00 % Operating margin 26.00 % 21.20 % 22.40 % Profit margin 19.50 % 15.90 % 16.80 % < Prev. 1 of 3 Next >