Pool Accessories, Inc. Segmented Income Statements for the Current Fiscal Year Ended December 31 [dollar amounts are in thousands) Furniture Supplies Division Division Sales 5 3,000,000 $1,000,000 Cost of goods sold 1,600,000 430.000 Gross margin $ 1,400.000 5 570.000 Allocated overhead 375.000 125,000 Selling and administrative expenses 250,000 200,000 Operating income 5 775,000 5 245,000 Income tax expense (30% rate) 232:500 73,500 Net income $ 542,500 5 171.500