Divisional performance analysis and evaluation. The vice president of operations of Free Ride Bike 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: Road Bike Mountain Bike Division Division Sales $2,970,000 $3,220,000 Cost of goods sold 1,307,000 1,513,000 Operating expenses 1,128,400 1,191,800 2,700,000 2,300,000 Invested assets Required: 1. Prepare condensed divisional income statements for the year ended December 31, 20Y7, assuming that there were no support department allocations. Free Ride Bike Company Divisional Income Statements For the Year Ended December 31, 2017 Road Bike Mountain Bike Division Division Line Item Description Sales * Cost of goods sold Gross profit Operating expenses Operating income