Management of Great Springs Bottled Water Company has asked you, the controller, to develop a transfer pricing system for the company. The Transportation Department of the company sells all of its product to the Bottling Department of the company. Thus the Transportation Department's sales become the Bottling Department's cost of goods sold. In order to determine an optimal transfer pricing system, management would like you to demonstrate what an income statement would look like under a cost, market, and negotiated transfer pricing structure. These various transfer prices are listed below. Cost-based $0.61 Market-based $0.74 Negotiated $0.70 Gallons transferred 278,000 Prepare an income statement for each of the transfer prices by filling in the missing numbers in the provided income statement based on each transfer price and calculate the operating income/loss percentage. Round your answers to the nearest whole number. Great Springs Bottled Water Company Income Statement (Cost-based) Month Ending August 31, 20xx Transportation Bottling Sales $285,000 Cost of goods sold 88,182 Gross profit $ $ Expenses: Fuel/utility expense $14,000 $3,300 43,080 57,100 Wages expense Costs allocated from corporate 17,235 14,000 Total expenses $74,315 $74,400 Operating income/(loss) in dollars $ Operating income/(loss) in percentage % % Great Springs Bottled Water Company Income Statement (Market-based) Month Ending August 31, 20xx Transportation Bottling Sales $285,000 Cost of goods sold 88,182 Gross profit $14,000 $3,300 Expenses: Fuel/utility expense Wages expense Costs allocated from corporate Total expenses 43,080 57,100 17,235 14,000 $74,315 $74,400 Operating income/(loss) in dollars Operating income/(loss) in percentage % % Great Springs Bottled Water Company Income Statement (Negotiated) Month Ending August 31, 20xx Transportation Bottling Sales $285,000 Cost of goods sold 88,182 Gross profit Expenses: Fuel/utility expense $14,000 $3,300 43,080 57,100 Wages expense Costs allocated from corporate Total expenses 17,235 14,000 $74,315 $74,400 Operating income/(loss) in dollars Operating income/(loss) in percentage % %