Exam 2 Required information [The following information applies to the questions displayed below.] Sky Communcations (SKY) usually sells a cell phone for $236 plus 12 months of cellular service for $944. SKY has a special, time-limited offer in which it gives the phone for free and sells the 12 months of cellular service for $330. Each phone costs SKY $310, which it accounts for in its perpetual inventory system. On July 1, SKY sells one of the special packages, delivers the phone, collects the $330 cash, and starts the cellular service. Required: 1. For the special offer, how much of the $330 is allocated to the sale of the cell phone equipment versus the sale of the cellular service? Equipment Service Allocated Transaction Price