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 $1,089,000 Revenues-S Region 1,280,400 Revenues-W Region 2,283,600 690,100 Operating Expenses-N Region Operating Expenses-S Region Operating Expenses-W Region 762,000 1,381,000 604,800 193,800 Corporate Expenses-Dispatching Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries 165,600 365,800 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 South West Number of scheduled trains 5,400 6,500 9,700 Number of railroad cars in inventory 900 1,400 1,100 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 North South West Revenues Operating expenses Operating income before support department allocations Support department allocations: Dispatching pico 100 000 000 000 Equipment Management Total support department allocations Operating income 2. What is the profit margin of each region? Round to one decimal place. Region Profit Margin North Region % South Region % West Region %