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	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	%