Problem 12-26 Close or Retain a Store [LO12-2 Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below Superior Markets, Inc Income Statement ncr re60000 For the Quarter Ended September 30 North East store South Total Store Store $4,100,000 $860,000 $1,640,000 $1, 600, 000 Sales Cost of goods sold Gross margin Selling and administrative expenses: 2,255, 000 515,000 860,000880, 000 1,845, 000 345,000 780, 000720,000 Selling expenses Administrative expenses 839,000 242, 400 320, 500 276,100 438, 000 117,000 167,400 153, 600 1,277, 000 359,400 487, 900 429, 700 568,000 (14,400) $ 292,100 $ 290,300 Total expenses Net operating income (loss)