Divisional Income Statements The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8: Cost of goods sold: Support department allocations: Commercial Division $355,100 Commercial Division $48,420 Residential Division 177,770 Residential Division 30,790 Administrative expenses: Sales: Commercial Division $64,560 Commercial Division $538,030 Residential Division 63,490 Residential Division 317,440 Prepare divisional income statements for Ruiz Industries Inc. Ruiz Industries Inc. Divisional Income Statements For the Year Ended November 30, 20Y8 Commercial Division Residential Division Sales $ $ Cost of goods sold Gross profit $ $ Administrative expenses Operating income before support department allocations $ $ Support department allocations Operating income $ $