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Exercise 14-27(Algo) Computing Divisional Income: Incomplete Information and Financial Ratios 1) ...

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Accounting

Exercise 14-27(Algo) Computing Divisional Income: Incomplete Information and Financial Ratios 1)
The following partial financial information (in thousands of dollars) is available for Thole, Incorporated:
Corporate overhead costs at Thole are allocated to divisions based on relative sales.
Required:
a. Complete the income statements for both divisions and the corporation as a whole.
Note: Enter your answers in thousands. Enter dil values as positive value. Round your answers to 1 decimal place.
\table[[,,,usands of Dolla,,,,],[,Pacific,,Southern,,,Total,],[Sales,,,,,,,],[Cost of sales,,,,,,,],[Gross margin,,,,,,,],[Selling, General and Admi,,,,,,,],[Allocated corporate costs,20.0,,,,,100.0,],[Operating income,,,,,,,],[Tax expense (@20%),-,,,,,,],[After-tax income,,,,,$,459.2,],[Gross margin percentage,40.00,%,50.00,%,,48.00,%
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