Michaels company segments its income statement into its

Reference no: EM13576926

Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $610,000, 57%, and $53,000, respectively. The West Division's contribution margin and contribution margin ratio are $158,000 and 74%, respectively. The East Division's segment margin is $79,000. The company has $53,000 of common fixed costs that cannot be traced to either division.

Prepare an income statement for Michaels Company that uses the contribution format and is segmented by divisions. (Input all amounts as positive values except losses which should be indicated by a minus sign. Round your percentage answers to 1 decimal place and all other answers to the nearest dollar amount.)

Reference no: EM13576926

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