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Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division, Do not round your interim calculations. Champlonship Sports Inc.

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Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division, Do not round your interim calculations. Champlonship Sports Inc. Divisional Income Statements For the Year Ended December 31, 20 Y9 Soles Cost of goods sold Gross profit Divisional selling and administrative expenses: Divisional selling expenses Divisional administrative expenses Operating income before support department allocations Support department allocationst Advertising expense Transportation expense Accounts receivable collection expense Warehouse expense Total support department allocations Champlanship Sports Inci operates two divisions-the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31, 20v9, the end of the fiscal year, after all adjustments, including those for inventorles, ware rncorded and posted: The bases to be vsed in allocating expenses, together with other information, are as follows: a. Advertising expense-incurred at hesdquarters, allocated to divisions on the basis of usage: Winter Sports ONision, \$426,000; Summer Sports 0ivision, S481,000. lading, C. Accounts recelvable collection expense-incurred at headquarters, allocated to divisions at a rate of 57 per invoice: Winter 5p0rts Oivision, 13,200 sales invoices; 5ummer 5ports Division, 15,400 sales involces. Division, 220,000 square feet: Prepare a divisional income statement with two column headings: Winter Sports Oivision and Summer Sports Division. Do not round your interim calculations. Champlonship Sports Inc. Provide supporting schedules for determining support department allocations. If required, round per unit amounts to two decimal places and final answers to the nearest dollar

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