Exercise 14-24 (Algo) Computing Divisional Income: Incomplete Information and Financial Ratios (LO 14-1) As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Pete's, a chain of western stores. Sneaky Pete's is organized into two divisions: Mountain and Valley. You are told that corporate overhead costs are allocated to divisions based on relative sales. Required: a. Complete the income statements for both divisions and the corporation as a whole. (Enter all values as positive value. Round your answers to 1 decimal place.) Mountain Division Valley Division Corporate Sales Cost of sales Gross margin SG&A Allocated corporate costs Operating income Tax expense (@25%) After-tax income 14.8 74.0 $ 133.2 Gross margin percentage Operating margin Profit margin 67.00 % 27.00 % 20.30 % 54.50 % 21.00 % 15.75 % 57.00% 22.20 % 16.65 %