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Please help and show work. Thank you! As a part of an employment interview, you are given the partial income statement and selected financial ratios
Please help and show work. Thank you!
As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Pete's, a chain of western stores. Sneaky Pete's is organized into two divisions: Mountain and Valley. You are told that corporate overhead costs are allocated to divisions based on relative sales. Required: a. Complete the income statements for both divisions and the corporation as a whole. (Enter all values as positive value. Round your answers to 1 decimal place.) Mountain Division Valley Division Corporate Sales Cost of sales Gross margin SG&A Allocated corporate costs Operating income Tax expense (@20%) After-tax income 120 60.0 $ 138.9 Gross margin percentage Operating margin 60.00% 20.50% 16.40 % 47.50 % 22.00% 17,60 % 50.00% 21.70 % 17.36 % Profit margin
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