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 os positive value. Round your answers to 1 decimal place.) Answer is complete and correct. Valley Division Corporate s S IS 8000 S S $ Sales Cost of sales Gross margin SOSA Allocated corporate costs Operating income Tax expense (@25%) After-tax income Mountain Division 240.0 1128 1272 55.8 138 576 14.4 432 560.0 3192 240.8 96.6 322 1120 28.0 84.0 4320 368.0 152.4 45.0 169.6 424 1272 S IS $ IS IS $ % Gross margin percentage Operating margin Profit margin 53.00 2400 10.00 43.00 20.00 15.00 % % 46.00 21 20 1590 % % 96