Profit Center Responsibility Reporting Championship Sports Inc. operates two divisions-the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31, 20Y9, the end of the fiscal year, including those for inventories, were recorded and posted: Sales-Winter Sports Division Sales-Summer Sports Division Cost of Goods Sold-Winter Sports Division Cost of Goods Sold-Summer Sports Division Sales Expense-Winter Sports Division Sales Expense-Summer Sports Division Administrative Expense-Winter Sports Division Administrative Expense-Summer Sports Division Advertising Expense $29,925,000 33,060,000 17,955,000 19,095,000 5,130,000 4,560,000 Transportation Expense Accounts Receivable Collection Expense Warehouse Expense The bases to be used in allocating expenses, together with other information, are as follows: a. Advertising expense-incurred at headquarters, allocated to divisions on the basis of usage: Winter Sports Division, $512,000; Summer Sports Division, $579,000. b. Transportation expense-allocated to divisions at a rate of $17 per bill of lading: Winter Sports Division, 13,600 bills of lading; Summer Sports Division, 15,000 bills of lading. c. Accounts receivable collection expense-incurred at headquarters, allocated to divisions at a rate of $8 per invoice: Winter Sports Division, 12,600 sales invoices; Summer Sports Division, 14,700 sales invoices. d. Warehouse expense-allocated to divisions on the basis of floor space used in storing division products: Winter Sports Division, 130,000 square feet; Summer Sports Division, 170,000 square feet. Sales Cost of goods sold Gross profit Divisional selling and administrative expenses: Divisional selling expenses 2,992,500 2,935,500 1,091,000 Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division. Do not round your interim calculations. Championship Sports Inc. Divisional Income Statements For the Year Ended December 31, 20Y9 1000 C 485,200 218,400 2,850,000 Winter Sports Division Summer Sports Division 10001 D