3. Fausnaught Corporation has two major business segmentsthe Retail Division and the Wholesale Division. In October, the Retail business segment had sales revenues of $731,812, variable expenses of $409,726, and traceable fixed expenses of $117,202. During the same month, the Wholesale business segment had sales revenues of $402,997, variable expenses of $220,603, and traceable fixed expenses of $48,226. Common fixed expenses totaled $218,000.

Required:

Prepare segmented income statements for the Retail Division and for the Wholesale Division. Omit percentages; show only dollar amounts. (7 Points)

Retail Division Segment income statement

Wholesale Division Segment income Statement