Divisional Income Statements and Rate of Return on Investment Analysis Sunshine Food Company is a diversified food company that specializes in all natural foods. The company has three operating divisions organized as investment centers. Condensed data taken from the records of the three divisions for the year ended June 30, 2016, are as follows: Retail Bakeries Division Cereal Snack Cake Division Division $3,220,000 1,960,000 551,600 4,600,000 $3,000,000 1,770,000 390,000 2,500,000 Sales Cost of goods sold Operating expenses Invested assets The management of Sunshine Food Company is evaluating each division as a basis for planning a future expansion of operations Required 1. Prepare condensed divisional income statements for the three divisions, assuming that there were no service department charges $3,510,000 2,180,000 628,000 3,900,000 Sunshine Food Company Divisional Income Statements For the Year Ended June 30, 2016 Cereal Division Snack Cake Division Retail Bakeries Division Sales Cost of goods sold Gross Profit