May I get some help on this question please. I have to restate the incomplete segmented income statement using the wrong completed segmented income statement" and the "Notes to the financial statements" provided below via the screenshots -Also take into consideration the percentage column should be taken as a percentage of sales (for example, cost of goods sold % for mountain bikes should be taken as a % of mountain bike sales)

USE THIS TO FILL OUT THE TEMPLATE. THE TASK IS TO FILL OUT THE TEMPLATE WITH CORRECT INFORMATION FROM THE NOTES

****Note "Sales", "Cost of goods sold", and "Parts & service expense" are correct and can be a direct pull into the new segmented income statement:

NOTES YOU NEED TO FOLLOW :

THE TEMPLATE THAT NEEDS TO BE FILLED OUT:

Thank you very much.

677,081 1,934,292 41% Sales Cost of goods sold % Cost of goods sold Gross Profit 739,053 46% 342,329 381,555 30% 113,513 268,042 136,603 19% 25,446 110,157 276,249 758,537 400,832 396,724 1,175,755 | 1 2 | 7,989 5,868 9,073 18,671 Operating expenses Advertising Depreciation Property taxes Rent Parts & service expense Salaries & commissions Utilities Total Operating Expenses Operating income (loss) Interest expense Income (Loss) before taxes Income tax Net Income (Loss) 35,901 5,868 9,073 18,671 36,309 108,923 27.193 241,938 49,349 5,868 9,073 18,671 39,633 108,923 27,193 258,710 138,014 2,250 135,764 32,320 $103,444 9,762 5,868 9,073 18,671 20,461 108,923 27,193 199,951 103,000 23,473 36,291 74,686 96,403 382,769 108,772 825,394 56,000 27.193 124,794 158,894 2,250 -14,638 2,250 68,091 2,250 65,841 16,686 156,644 29,610 $127,034 25% 350,361 9,000 341,361 84,589 $256,772 -16,888 5,974 -$22,861 $49,155 Notes to the financial statements: 1. Advertising is committed to at the beginning of the period by management. Management has many different forms of advertising campaigns with different focuses as follows: Cross country ski packages Mountain bicycles Accessories TOTAL Parts & Service Promotes company as a whole 7,000 $ 14,000 31,000 $ 44,000 $ 7,000 $ $ 103,000 2. The company uses the straight-line method of depreciation. 3. The property taxes are set by the City and do not change with changes in sales volume. 4. Rent has two components: Monthly amount Percentage based on each department's sales 5. Parts and services expense varies with sales of cross country skis, mountain bikes, and accessories. There are no parts & service expense for the parts & service department. 6. Sales commissions are paid on sales for cross country skis, mountain bikes, and accessories. The Parts & Service department employees do not earn sales commissions on their sales. 10% Sales commissions Total yearly salary of employees that sell skis, bikes, and accessories. These employees will continue to work for the company regardless of which product lines are offered. $ 67,000 $ 80,000 The store managers are paid a total yearly salary. They are responsible for all of the departments. These managers will continue to work even if any of the divisions are closed. The Parts & Service Employees only work in that department. If this department were closed, the technicians would be laid off. The total salary for the technicians is $ 56,000 7. Utilities are the same regardless of activity and will not change even if a product line is dropped. 8. Interest expense is charged on the outstanding bank loans. The total interest expense is $ 9,000 9. Income taxes are calculated for the company as a whole. The company will have to pay taxes regardless of which product lines it offers. Cross Country Ski Packages Amount Percent Mountain Bicycles Amount | Percent Accessories Amount Percent Parts and Service Department Amount Percent TOTAL Amount Percent SALES 677,081 739,053 100.0% 381,555 100.0% 136,603 100.0% 1,934,292 100.0% Less: Variable Costs (MUST BE USTED ALPHABETICALLY) Cost of Goods Sold 276,249 40.8% 342,329 46.3% 113,513 29.8% 26,446 19.4% 758,537 39.2% TOTAL 47.1% 21.4% CONTRIBUTION MARGIN 283,273 41.8% 268,405 36.3% 201,794 52.9% 107,425 78.6% 860,897 44.5% Less: Traceable Fixed Costs (MUST BE LISTED ALPHABETICALLY) TOTAL Traceable Fixed Costs SEGMENT MARGIN $ 252,273 224,405 $ 194,794 715,897 Less: Common Fixed Costs (MUST BE LISTED ALPHABETICALLY)