Show Me How 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 Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's $876,600 1,038,900 1,889,400 555,500 618,300 1,142,600 484,000 168,000 General Corporate Officers' Salaries 133,300 294,400 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: North Number of scheduled trains Number of railroad cars in inventory Required: South West 5,500 6,600 9,900 1,000 1,600 1,400 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 Line Item Description Revenues Operating expenses 555,500 North 876,600 V South West Operating income before support department allocations 321,100 1,038,900 V 618,300 420,600 1,889,400 V 1,142,600 746,800 Support department allocations: Dispatching Check My Work Previous