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 Operating income Tax expense (@20%) After-tax income 10.0 50.0 $ 101.8 40.00% Gross margin percentage Operating margin Profit margin 55.00% 26.00 % 20.80 % 20.00% 43.00 % 21.20 % 16.96 % 16.00%