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pWeek 3 Homeworkx Saved Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company is concemed about the net loss on its No. 3 peaches. Income Statement For Year Ended December 31, 2017 No Sales (by grade) No. 1: 198,000 Ibs. 9 $2.10/1b 415,800 No. 2: 198,000 Ibs.8 $1.90/1b $376, 200 s 198, 000 No. 3: 990,000 Ibs. Total sales $0.20/1b $990,000 Costs tree pruning and care 8 $0.30/Ib Picking, sorting, and gzading so.20/Ib Delivery costs Total costs 59, 40059, 400 297,000 415,800 39, 600 39, 600 198,000 277,200 38,200 69,600 114,700 114.700 533,200 762, 600 301,100 $261,500 $ (335,200) $227,400 15,700 15, 700 Net income (loss) In preparing this statement, the company allocated joint costs among the grades on a physical basis as an equal amount per pound The company's delivery cost records show that $31,400 of the $69,600 relates to crating the No. 1 and No. 2 peaches and hauling therm to the buyer. The remaining $38,200 of delivery costs is for crating the No. 3 peaches and hauing them to the cannery 2. Using your answers to part 1, prepar intermediate calculations.) e an income statement using the joint costs allocated on a sales value basis (Do not round For Year Ended December 31, 2018 Costs Prov 6 ot 6 Next DELL

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