Profit center responsibility reporting for a service company Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31: Revenues-N Region Revenues-S Region Revenues-W Region Operating Expenses-N Region Operating Expenses-S Region Operating Expenses-W Region Corporate Expenses-Dispatching $1,010,100 1,165,300 2,121,200 640,100 693,500 1,282,800 Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries 565,600 171,000 153,600 339,300 The company operates three support departments: the Dispatching Department, the Equipment Management Department, and the Treasurer's Department. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer's Department conducts a variety of services for the company as a whole. The following additional information has been gathered: Number of scheduled trains Number of railroad cars in inventory Required: North South West 5,100 6,100 9,000 1,000 1,500 1,300 1. Prepare quarterly income statements showing operating income for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations. Thomas Railroad Company Divisional Income Statements For the Quarter Ended December 31 ine Item Description North South West evenues perating expenses perating income before support department allocations pport department allocations: Dispatching SA tA EA Next