Question 1 Pharoah Equipment sells equipment to sports enthusiasts. Doug Pharoah, the company's president, just received the following income statement reporting the results of the past year Baseball Soccer Basketball Total Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income $1,300,000 $3,720,000 $2,446,000 $7,466,000 877,000 2,418,000 1,969,600 5,264,600 193,200 170,200 304,600 1,108,800 306,200 1,719,600 118,400 481,800 175,400 81,600 62,000 595,200 244,600 1,015,200 75,300 100,100 86,800 133,000 243,700 295,100 ($14,400) $293,800 ($113,800) $165,600 Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division. (If the amount is negative then enter with a negative sign preceding the number, e.g.-5,125 or parenthesis, e.g. (5,125).) Baseball Soccer Basketball Total