Time-To-See Company began operations in January 2011 with two operating (selling) service (office) department. Its departmental income statements follow. and one TIME-TO-SEE COMPANY For Year Ended December 31, 2011 Clock Sales Cost of goods sold 160,000 $115,000 $ 275,000 78,400 71,300 149,700 Gross profit Direct expenses 1,600 43,700 125,300 Sales salaries 22,000 1,800 1.150 2,200 7,900 29,900 800 2,600 1,400 2,900 Store supplies used Total direct expenses 27,150 9,650 36,800 Allocated expenses Rent expense Utilities expense Share of office department expenses 7,070 3,000 3,780 10,850 4,800 000 14,500 1,800 4 Total allocated expenses Total expenses Net profit 9,580 30,150 9,230 66,950 S 33,880 24,470 S 58,350 10,500 20,570 47.720 Time-To-See plans to open a third department in January 2012 that will sell paintings. Management predicts that the new department will generate S47 ,000 in sales with a 85% gross profit margin and will require the following direct expenses: sales salaries, $6,000; advertising, $900; store supplies, $1,000; and equipment depreciation, $900. It will fit the new department into the current rented space by taking some square footage from the other two departments. When opened the new painting department will fill one-fifth of the space presently used by the clock department and one-sixth used by the mirror department. Management does not predict any increase in utilities costs, which are allocated to the departments in proportion to occupied space (or rent expense). The company allocates office department expenses to the operating departments in proportion to their sales. It expects the painting department to increase total office department expenses by $7,500. Since the painting department will bring new customers into the store, management expects sales in both the clock and mirror departments to increase by 13%, No changes for those departments' gross profit percents or their direct expenses are expected except for store supplies used, which will increase in proportion to sales. Required Prepare departmental income statements that show the company's predicted results of operations for calendar year 2012 for the three operating (selling) departments and their combined totals. (Input all amounts as positive values. Round your percentage value to 1 decimal place, intermediate and final answers to the nearest whole dollar amount. Omit the "$" sign in your response)