assume that the special contract division of harriss experienced the following transactions durikg the year ended december 31 2017.

1. prepare the special contracts division income statements for the year ended december 31,2017.

2. identify the accounting assumption or charecteristics used in accounting for items described through f.show this in preparing division income statement.

a Suppose the division provided copy services to a customer for the discounted price of $256.620. Under normal conditions, Harris's would have provided these services for $282,000. Other revenues totalled $53,000 Salaries cost the division $22,000 to provide these services. The division had to pay employees overtime. Ordinarily, the salary cost for these services would have been $19,800 Other expenses totalled $247,000. Income tax expense was 35% of income before tax Harris's has two operating divisions. Each division is accounted for separately to indicate how well each is performing. At year-end, Harris's combines the statements of divisions to show results for Harris's as a whole. Inflation affects the amounts that Harris's must pay for copy machines. To show the effects of inflation, net income would drop by $5,000. If Harris's were to go out of business, the sale of its assets would bring in $152 000 in cash Print Done