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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

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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.) Mountain Division Valley Division Corporate 6000 Sales Cost of sales Gross margin SORA Allocated corporate costs Operating income Tax expense (@25%) After-tax income 228 S 76,0 1344 3361 1008 $ Gross margin percentage Operating margin Profit margin 6800% 28.00% 21001% 3800 % 20.001% 15.00% 4700 22.40 16.80%

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