Chapter 13 - Extra Credit - Homework - Algorithmic 2 75 points Skipped Saved Problem 13-26 (Algo) Close or Retain a Store [LO13-2] Superior Markets, Incorporated, operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Incorporated Income Statement For the Quarter Ended September 30 Total Sales eBook Cost of goods sold Gross margin Selling and administrative expenses: Print References Selling expenses Administrative expenses Total expenses Net operating income (loss) North Store $ 3,840,000 2,121,216 $ 921,600 516,096 1,718,784 405,504 South Store $ 1,536,000 844,800 691,200 East Store $ 1,382,400 760,320 622,080 1,045,760 490,240 1,536,000 296,192 403,200 346,368 135,680 193,152 161,408 431,872 596,352 507,776 $ 182,784 $ (26,368) $ 94,848 $ 114,304 The North Store has consistently shown losses over the past two years. For this reason, management is giving consideration to closing the store. The company has asked you to make a recommendation as to whether the store should be closed or kept open. The following additional information is available for your use: