Divisional Performance Analysis and Evaluation The vice president of operations of Morrison IQ Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year for each division are as follows: Sales Cost of goods sold Operating expenses Invested assets Required 1. Prepare condensed divisional income statements for the year ended December 31, 2016, assuming that there were no service department charges Business Division 3,720,000 1,637,000 1,487,800 3,100,000 Consumer Division $3,920,000 1,842,000 1,294,000 2,800,000 Morrison IQ Company Divisional Income Statements For the Year Ended December 31, 2016 Bu siness Division Consumer Division Sales Cost of goods sold Gross proft Operating expenses Income from operations