Thomas Railroad Company organizes its three divisions, the North $($N$),$ South $($S$),$ and West $($W$)$ regi following quarterly income and expense accounts were provided from the trial balance as of Decembe

Revenues $-N$ Region

Revenues $-5$ 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

General Corporate Officers' Salaries

$$1,044,000$

$1,245,600$

$2,188,700$

$661,600$

$741,300$

$1,323,600$

$555,000$

$214,200$

$158,800$

$350,600$

The company operates three support departments: the Dispatching Department, the Equipment Manager The Equipment Management Department manages the railroad cars inventories. It makes sure the right The following additional information has been gathered:

$\backslash$table$[[,$North,South,West$],[$Number of scheduled trains,$4,600,5,600,8,300],[$Number of railroad cars in inventory,$1,100,1,700,1,400]]$

Required:

Prepare quarterly income statements showing operating income for the three regions. Use three columi

Thomas Railroad Company

Divisional Income Statements

For the Quarter Ended December $31$

For the Quarter Ended December $31$

Line Item Description

Revenues

Operating expenses