Pet World operates a chain of pet stores in the Prairies. The manager of each store reports to the regional manager, who, in San, reports to headquarters in Regina. The actual income statements for the Wing region (ncluding the Winnipeg store), and the company as a whole (including the Manitoba region) for July are as follows Click the icon to view the actual income statements) (Click the icon to view the budgeted Income statements.) Requirements 1. Prepare a report for July that shows the performance of the Winnipeg store, the Manitoba region, and the company as a whole 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? 3. Briefly discuss the benefits of budgeting Base your discussion on Pet World's performance report Requirement 1. Prepare a report that shows the performance of the Winnipeg store, the Manitoba region and the company as a whole. We will begin with the company as a whole. (Use parentheses or a minus sign when entering the headquarters' expense and arty unfavourable variances) Pat World Responsibility Accounting Performance Report July Companywide Operating Income of Regions and Headquarters Office Expens Actual Budget Variance Favourable (Unfavourable) Headquarters office expense Manitoba Stores in other regions Operating income Now prepare the report that shows the performance of the Manitoba region (Use parentheses or a minus sign when entering the region manager's expense and any unfavourable variances) Operating Income of Stores and Manitoba Variance Favourable