vecember 31, 2010 Debit Credit Cash 345.000 Accounts receivableiner 156.000 Inventory, December 31, 2015 180.000 uipment and fixtures (net! 540,000 Accounts payable $109,000 Commen stock 4500,000 Hetainer earnings 18.1,000 Revenue-department X 859,000 Revenue-department Y 353,000 Cost of goods sold department 420.000 Cost of goods sold department Y 216.000 Sales salaries expenst 199,000 Advertising wense $1,000 Insurance expense 24,000 Uncolectible accounts expense 9.000 Occupancy excense 36.000 Office and other administrative experse 90.000 $1,965,000 $1,965,000 Woodfield analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payrol records, advertising ropy, and other records, the following tabulation was obtained: Traceable Expense Dept. X Dept. Y Common Expense Sales salaries expense $150,000 $48.000 Advertising wense 21,000 9.000 $21,000 Insurance experise 15,000 9,000 Uncolectible accounts expense 6,000 3,000 Occupancy expense 36,10001 apartman Office and other administrative expense 15,000 12.000 53,000 Prepare a departmental income statement for Woadfield Candies, inc, showing departmental cartribution to common expenses, assuming an overall income tax rate of 25. Do not use negative signs with your answers belon. Woodfield Candles, Inc Departmental Income Statement For the Year Ended December 31, 2016 Dept. x Dept. Y X Total Sales os 05 D Cost of goods sold 0 D Gross profit a D D Operating expenses: Sales salarias expense 0 Atvertising expense 0 0 0 0 Insurance expense a D Uncollectible accounts expense 0 0 0 0 Orlice and other administrative experise 0 0 0 Traceable operating expenses D D Contribution to pamian ixpenses 0 0 0 0 Common expenses Income before tax Income tax expense Ner Income D D D O