At Paul's company, two types of candles are created from the common melting and molding process: pillar candles and votive candles (eight votives per pack; one pack is one unit). The costs of the joint process total $60,000. The votive candles are sold directly after production, but the pillar candles are further etched and designed to increase their value. The quantities, costs, and values of these products as produced and sold are as follows. Allocate the joint costs under the sales value at split-off method and prepare (1) a partial income statement through gross margin and (2) the inventory section of the balance sheet. (Round proportion and per unit calculations to 4 decimal places, e.g. 0.2513 and final answers to O decimal places, e.g. 5,125.) (1) A partial income statement through gross margin (2) The inventory section of the balance sheet