Exercise 14-22 (Static) Compute Divisional Income (LO 14-1) Arlington Clothing, Inc., shows the following information for its two divisions for year 1. Sales revenue Cost of sales Allocated corporate overhead Other general and administration Lake Region Coastal Region $4,080,000 $12,920,000 2,616,300 6,460,000 244,800 775,200 538,900 3,740,000 Required: a. Compute divisional operating income for the two divisions. Ignore taxes. b-1. What are the gross margin and operating margin percentages for both divisions? b-2. How well have these divisions performed? Complete this question by entering your answers in the tabs below. ReqA Req B1 Req B2 Compute divisional operating income for the two divisions. Ignore taxes. (Enter your answers in to 1 decimal place.) Lake Region Coastal Region $ 680,000.0 $ 1,944,800.0 Operating income What are the gross margin and operating margin percentages for both divis rounded to 2 decimal places (i.e., 32.12).) Gross margin percentage Operating margin Lake Region Coastal Region 0.36% 0.50% 0.17% 0.15%