Problem 9-3B Departmental income statements; forecasts P3 Bonanza Entertainment began operations in January 2017 with two operating (selling) departments and one service (office) department. Its departmental income statements follow. Departmental Income Statements For Year Ended December 31, 2017 Movies Video Games Sales Cost of goods sold Gross profit Direct expenses $600,000 $200,000 $800,000 420,000 154000574,000 46,000 180,000 226,000 Sales salaries Advertising Store supplies used 15,000 6,000 1,000 4,5003,0007.500 25,000 37,000 12,500 4,000 52,000 18.500 5.000 Total direct expenses.... 58,000 83,000 Allocated expenses 41,000 7,380 Rent expense.. 9,000 1,620 18,750 10463029.370 50,000 9,000 75,000 134,000 56.250 Total expenses Net income (loss) .162,630 54370 217,000 217 . 17,370 (8.370 9,000