Firefox File Edit View Histor y Bookmarks Tools Window Help csur Portal. Horme xl PeopleSoe session expired n TITANium Fal 2017 ACCT 2018-11Chapter t0 x Mitch's Markets, Inc., operates three stores in a large metropolitan area. The absorption costing income statement for the last quarter is given below company's segmentecd Mitch's Markets, Inc. Income Statement For the Quarter Ended March 31 Uptown Dowmtown West Loop Store Sales 3,490,000 $ ,949,400 990,000 646,200 s 610,000 313,200 1,800,000 s 1,080,000 Cost of goods sold Gross margn 540,800 81,000433,800 296,800 Seling and administrative expenses: Selling expenses: Direct advertising General advertising Sales salaries Delivery salaries Store rent Depreciation of store fixtures Depreciation of delivery equipment 165.600 24,700 194,200 45,700 274,500 58,900 37,400 86,600 75,600 7,700 84,600 75,600 19,800 20,600 113,400 15,700 18,200 16,200 12,800 19,800 32,100 23,400 4,200 34,000 6,100 40,500 11,100 5,000 Total seling expenses 801,000 352,700 324,000 124,300 Administrative expenses: Store management salaries General office salaries Utiiies Insurance on foxtures and inventory Employment taxes General office expenses-other 102,600 60,800 130,800 34,700 49,000 28,400 43,200 43.200 31,400 18,800 55,800 57,800 14,100 20,000 21,900 14,600 16,200 10,600 17,400 4,700 7.100 15,900 8,800 Total administrative expenses Total operating expensers Net operating income (loss) 406,300 179,100 166,200 61,000 ,207,300 531,800 490,200 185,300 s 333,300 278,200 (56,400) S 111,500 Allocated on the basis of sales dollars