Segmented Income Statement Instructions Labels and Amount Descriptions Segmented Income Statement Instructions Gorman Nurseries Inc. grows poinsettias and fruit trees in a green houseursery operation. The following information was provided for the coming year. Poinsettias $ 970,700 Sales Fruit Trees $3,100,500 1,629,900 Variable cost of goods sold 459,200 Direct fixed overhead 159,600 200,500 A sales commission of 3% of sales is paid for each of the two product lines. Direct fixed selling and administrative expense was estimated to be $146,400 for the poinsettia line and $86,800 for the fruit tree line. Common fixed overhead for the nursery operation was estimated to be $800,600; common selling and administrative expense was estimated to be $449,900. Required: Prepare a segmented income statement for Gorman Nurseries for the coming year, using variable costing