Problem 9-3A Departmental income statements; forecasts LO P3 Williams Company began operations in January 2015 with two operating (selling) departments and one service (office) department. Its departmental income statements follow Departmental Income Statements For Year Ended December 31, 2015 Clock Mirror Combined Sales Cost of goods sold 190,000 $105000 $ 295,000 93,100 65.100 158 200 Gross profit Direct expenses 96.,900 39900 136,800 Sales salaries Advertising Store supplies used Depreciation-Equipment 22,0007 20029 200 800 2,900 300 1.300 200 2700 2,100 1,000 2,500 Total direct expenses 27,600 8,50036,100 Allocated expenses Rent expense Utilities expense Share of office department expenses 3,480 10 520 2,500 4.900 12,50010,000 22 500 7,040 2,400 21 940 15,90 37 920 49,540 24,480 74,020 47,360 15420 $ 62,780 Total allocated expenses Total expenses Net income Williams plans to open a third department in January 2016 that will sell paintings Management predicts that the new department will generate $45,000 in sales with a 65% gross profit margin and will require the