Can you show some of the calculations? fill in the blue boxes in the segmented income statement below

Notes Mountain Sports Ltd. Segmented Income Statement For the Year Ended Dec 31, 2019 Cross Country Ski Packages Mountain Bikes 623,901 773, 131 41% 48% 253,304 372,958) 370,597 400,173 TOTAL 1,903,819 Accessories 359,876 26% 94,144 265,732 Parts & Service 146,911) 16% 23,432 123,479 743,838 1,159,981 1 2 3 4 Sales Cost of goods sold % Cost of goods sold Gross Profit Operating expenses Advertising Depreciation Property taxes Rent Parts & service expense Salaries & commissions Utilities Total Operating Expenses Operating income (loss) Interest expense Income (Loss) before taxes Income tax Net Income (Loss) 5 6 7 41,243 5,197 8,496 23,279 33,471 124,466 25,512 261,663 108,934 1,750 107,184 19,223 $87,961 48,498 5,197 8,496 23,279 41,477 124,466 25,512 276,924 123,249 1,750 121,499 23,820 $97,679 9,024 5,197 8,496 23,279 19,307 124,466 25,512 215,280 50,452 1,750 48,702 11,088 $37,614 7,235 5,197 8,496 23,279 0 68,000 25,512 137,718 -14,239 1,750 -15,989 4,526 -$20,515 106,000 20,787 33,984 93,115 94,255 441,398 102,046 891,5851 268,396 7,000 261,396 58,657 $202,739 8 22% Notes to the financial statements: 1. Advertising is committed to at the beginning of the period by management Management has many different forms of advertising campaigns with different focuses as follows: Cross country ski packages Mountain Bikes Accessories TOTAL Parts & Service Promotes company as a whole 6,000 $ 16,000 $ $ 36,000 $ 42,000 $ 6,000 $ 106,000 2. The company uses the straight-line method of depreciation. 3. The property taxes are set by the City and do not change with changes in sales volume. 3,000 4. Rent has two components: Monthly amount Percentage based on each department's sales 3% 2 5. Parts and services expense varies with sales of cross country skis, mountain bikes, and accessories. There are no parts & service expense for the parts & service department. 6. Sales commissions are paid on sales for cross country skis, mountain bikes, and accessories. The Parts & Service department employees do not earn sales commissions on their sales. 13% Sales commissions Total yearly salary of employees that sell skis, bikes, and accessories. These employees will continue to work for the company regardless of which product lines are offered. $ 66,000 $ 79,000 The store managers are paid a total yearly salary. They are responsible for all of the departments. These managers will continue to work even if any of the divisions are closed. The Parts & Service Employees only work in that department. If this department were closed, the technicians would be laid off. The total salary for the technicians is $ 68,000 7. Utilities are the same regardless of activity and will not change even if a product line is dropped. 8. Interest expense is charged on the outstanding bank loans. The total interest expense is $ 7,000 9. Income taxes are calculated for the company as a whole. The company will have to pay taxes regardless of which product lines it offers. Required: Part A: (25 marks) 1) Restate the segmented income statement using the statement the junior accountant prepared and the notes to the financial statements (Chapter 7 Appendix) Check figures have been provided to ensure you are on the right track. If you are not arriving at the check figures, please discuss with your group members to determine where you went wrong! Ultimately your group will over-write the check figures with formulas, however, it will be your group's responsibility to ensure that you match up the check figures to the original workbook provided. Notes: The percentage column should be taken as a percentage of sales (for example, cost of goods sold % for mountain bikes should be taken as a % of mountain bike sales) There may be small rounding differences where total amounts are off by $1, that is ok! Make sure you are using full Excel functionality and entering formulas into each cell. You cannot use your calculator and input the final answer. Cross Country Ski Packages Amount Percent Mountain Bikes Amount Percent Accessories Amount Percent Parts and Service Department Amount Percent TOTAL Amount Percent SALES 623,901 100% 773,131 100.0% 359,876 100.0% 146,911 100.0% 1,903,819 100.0% Less: Variable Costs (MUST BE LISTED ALPHABETICALLY) Cost of Goods Sold 253,304 40.6% 372,958 48.2% 94,144 26.2% 23,432 16.0% 743,838 39.1% TOTAL CONTRIBUTION MARGIN Less: Traceable Fixed Costs (MUST BE LISTED ALPHABETICALLY) TOTAL Traceable Fixed Costs SEGMENT MARGIN