Pool Accessories, Inc. Segmented Income Statements for the Current Fiscal Year Ended December 31 (dollar amounts are in thousands) Furniture Supplies Division Division Sales $ 3,000,000 $ 1,000,000 Cost of goods sold 1,600,000 430,000 Gross margin $ 1,400,000 570,000 Allocated overhead 375,000 125,000 Selling and administrative expenses 250,000 200,000 Operating income $ 775,000 $ 245,000 Income tax expense (30% rate) 232,500 73,500 Net income S. 542.500 $ 171,500