Effect of proposals on divisional performance Instructions Starting Question Estimated Income Statements Final Questions Instructions A condensed income statement for the Commercial Division of Maxell Manufacturing Inc. for the year ended December 31 is as follows Sales Cost of goods sold Gross profit $3,850,000.00 2,670,000.00 $1,180,000.00 Operating expenses 295,000.00 Income from operations $585,000.00 Invested assets $2,750,000.00 Gross profit