KALLITSE LAI HIVASTHUNE ANdrys EF. Lynch Company is a diversified investment company with three operating divisions organized as investment centers. Condensed data taken from the records of the these dions for the y Fee revenue Operating expenses Invested assets Mutual Fund Division Investment Electronic Brokerage Division Banking Division $1,780,000 $1,670,000 908,800 5,200,000 750,400 5,200,000 1,262,000 3,400,000 $1,090,000 The management of EF. Lynch Company is evaluating each division as a basis for planning a future expansion of operations. Required: 1. Prepare condensed divisional income statements for the three divisions, assuming that there were no support department allocations E.F. Lynch Company Divisional Income Statements For the Year Ended June 30, 2018 Mutual Fund Electronic Investment Brokerage Banking Division Division Division Fee revenue 1.090.000 1.780.000 1.670.000 Operating expenses 908.600 X 750,400 1.262.000 Operating income 781.400 X 1029.600 405,000 Ch