Williams Company began operations in January 2019 with two operating (selling departments and one service office) department. Its departmental income statements follow. WILLIAMS COMPANY Departmental Income Statements For Year Ended December 31, 2019 Clock Mirror Combined Sales $ 160,000 $105,000 $ 265,000 Cost of goods sold 78,400 65,100 143,500 Gross profit 81,600 39,980 121,500 Direct expenses Sales salaries 21,080 8,500 29,500 Advertising 1,500 See 2,000 Store supplies used 1.000 350 1,350 Depreciation Equipment 2.3ee 50 2,880 Total direct expenses 25,800 9,858 35,650 Allocated expenses Rent expense 7,060 4,620 11,080 Utilities expense 2,680 2.300 4,900 Share of office department expenses 11,500 10.500 22.000 Totat allocated expenses 21,160 16,820 37,980 Total expenses 46,960 26.670 73,630 Net income $ 34,640 $ 13, 230 $ 47,870 Williams plans to open a third department in January 2020 that will sell paintings. Management predicts that the new department will generate $56,000 in sales with a 85% gross profit margin and wil require the following direct expenses: sales salaries, $9,000; advertising, $1100; store supplies, $800, 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-fourth 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 for 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 $8,300. Since the Painting department will bring new customers into the store, management expects sales in both the Clock and Mirror departments to increase by 9%. 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 2020 for the then in Roth IRA MARIA DE Required: Prepare departmental income statements that show the company's predicted results of operations for calendar-year 2020 for the three operating (selling) departments and their combined totals. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) WILLIAMS COMPANY Forecasted Departmental Income Statements For Year Ended December 31, 2020 Clock Mirror Paintings Combined 0 0 O 0 Direct expenses 0 0 0 Total direct expenses Allocated expenses 0 0 0 D Total allocated expenses Total expenses 0 0 0 0 0 $ $ 0 $ 0 S 0