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 income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as f December 31: Revenues-N Region $1,045,000 Revenues-S Region 1,298,500 Revenues-W Region 2,151,800 Operating Expenses-N Region 662,200 Operating Expenses-S Region 772,800 Operating Expenses-W Region 1,301,300 Corporate Expenses- Dispatchi ng 468,000 Corporate Expenses-Equipment Management 306,800 Corporate Expenses-Treasurer's 158,900 General Corporate Officers' Salaries 351,000 The company operates three service 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: North South West Number of scheduled trains 4.900 5,900 8,700 Number of railroad cars inventory 1,300 2,100 1,800 1. Prepare quarterly income statements showing income from operations 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 North South West Revenues Operating expenses Income from operations before service department charges Service department charges: Dispatching Equipment Management Total service department charges Income from operations 2. What is the profit margin of each division? Round to one decimal place. Profit Margin Region North Region % South Region West Region