Peak Corporation has two regional divisions organized as profit centers. The following annual income and expense accounts were provided from the trial balance as of December 31, 2022: North Division South Division Corporate Revenues $3,800,000 $6,400,000 Cost of goods sold 1,700,000 3,500,000 Operating expenses 1,437,000 1,833,000 Shareholder relations $450,000 Purchasing 500,000 Payroll accounting Officers' salaries 700,000 300,000 Number of purchase requisitions 6,000 Number of payroll checks 300 2,000 200 The Shareholder Relations Department conducts a variety of services for shareholders of the company and is not controllable by the Division managers; either are the corporate officers' salaries. The activity bases for purchasing and payroll accounting are the number of purchase requisitions and the number of payroll checks, respectively. Required: 1. Prepare an annual income statement in proper form (correct heading, line items, subtotals, etc.) for the North Division. 2. Prepare a detailed calculation of the profit margin for the North Division.