Tony's Tire and Auto Repair has two divisions split up by region$$a Southern Division and a Northern Division. The following segmented income statement is for the most recent fiscal year ended December $31$:

Tony's Tire and Auto Repair

Segmented Income Statements

Southern Division

Northern Division

Sales

$$5,250$

$$31,500$

Cost of goods sold

$1,575$

$13,650$

Gross margin

$3,675$

$17,850$

Allocated overhead $($from corporate$)$

$300$

$1,827$

Selling and administrative expenses

$2,205$

$12,600$

Operating income

$1,170$

$3,423$

Income tax expense $(30\%$ rate$)$

$351$

$1,027$

Net income

$$819$

$$2,396$

Tony's Tire and Auto Repair

Segmented Balance Sheet Statements

Southern Division

Northern Division

End balance

Beginning balance

End balance

Beginning balance

Assets

Cash

$$1,155$

$$1,103$

$$4,400$

$$3,800$

Accounts receivables

$840$

$893$

$3,100$

$3,150$

Inventory

$2,100$

$2,205$

$7,500$

$7,650$

Total current assets

$4,095$

$4,201$

$15,000$

$14,600$

Property, plant, and equipment $($net$)$

$5,775$

$6,090$

$26,000$

$28,000$

Land $($held for sale$)$

$1,050$

$1,050$

$2,500$

$2,500$

Total assets

$10,920$

$11,341$

$43,500$

$45,100$

Liabilities and owner's equity

Accounts payable

$1,260$

$1,208$

$3,750$

$3,300$

Other current liabilities

$315$

$368$

$1,600$

$1,200$

Total current liabilities

$1,575$

$1,576$

$5,350$

$4,500$

Long$-$term liabilities

$0$

$0$

$0$

$0$

Total liabilities

$1,575$

$1,576$

$5,350$

$4,500$

Total owner's equity

$9,345$

$9,765$

$38,150$

$40,600$

Total liabilities and owner's equity

$$10,920$

$$11,341$

$$43,500$

$$45,100$