The vice president of operations of Free Ride Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year for each division are as follows:

The vice president of operations of Free Ride Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year for each division are as follows: Sales Cost of goods sold Operating expenses Invested assets Road Bike Division $1,728,000 1,380,000 175,200 1,440,000 Mountain Bike Division $1,760,000 1,400,000 236,800 800,000 Divisional Income Statements I. Prepare condensed divisional income statements for the year ended December 31, 2016, assuming that there were no service department charges Free Ride Bike Company Divisional Income Statement Road Bike DivisionMountain Bike Division