Hepras, Inc., has two product lines: routers and Ethernet switches. During the current month, the two product lines reported the following results:

In addition, fixed costs common to both product lines amounted to $220,000.

Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each product line. (Round percentage answers to 2 decimal place. I.e. 0.1234 should be considered as 12.34%.)

Chapter 22 instructions Ihelp velue: 10.00 points Hepras, Inc., has two product lines: routers and ethernet switches. During the current month, the two product lines reported the following results: Routers $ 800,000 Switches $ 600,000 Sales Variable costs (as a percentage of sales) Traceable fixed costs 40% 45% $250,000 125,000 In addition, fxed costs common to both product lines amounted to $220,000 Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each product line. (Round percentage answers to 2 decimal place. Le. 0.1234 should be considered as 12.34%) HEPRAS INCORPORATED Responsibility Income Statement For the Current Month Routers Line Ethernet Switches Line Entire Company DollarsPercent of Percent ofDollars Percent of Dollars Sales 100.001 % Sales Sales Sales Variable costs Contribution margin Fixed costs traceable to product lines Product responsibility margin Common fixed costs $1,400,000 100.00% 800,000 320,000 57.86 %|$ 480,000 250,000 57.86% $ 230,000 1 100 0%S 6 0.0001 270,000 60.00% S 330,000 125,000 6000% $ 205,000 40.00 45.00 590,000 42.14 55.00% | $ 810,000 375,000 $435,000 220,000 $ 215,000 55.00 % 57.86 % Income from operations