lepartment believes that the number of hours billed is an activity base for this work. The following additional information has been gathered: 1. Prepare quarterly income statements showing income from operations for the three divisions. Use three column headings: East, West, and Central. 2. Identify the most successful division according to the profit margin. Enter percentage rounded two decimal places (e.g. 0.22547 is 22.55% ). 3. What would you include in a recommendation to the CEO for a better method for evaluating the performance of the divisions? What is a majo weakness of the present method? 2. Compute the profit margin for each division. Enter percentage rounded two decimal places (e.g. 22547 is 22.55%). \begin{tabular}{lr} Division & Profit Margin \\ \hline East Division & % \\ West Division & % \\ Central Division & \end{tabular} Points: 0/3