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QUESTION 4: Responsibility centres and internal control A person owns and operates Home Store. The store is divided into three departments, selling bathroom products, bedroom products and dining room products. Only sales and costs of sales are apportioned to the specic departments; no other operating costs are apportioned. The adjusted Trial Balance for this business as at 3] March 2020 is as follows: Debit Credit Accounts payable 16,000 Accounts receivable 24,200 Bank 1 6,000 Cost of bathroom products Sold 72,500 Cost of bedroom products Sold 55,400 Cost of dining room products Sold 25,000 Drawings 45,000 Fixtures and ttings (net) 45,000 GST Clearing 1,700 Insurance expense 3,100 Inventory as at 31 March 2020 22,000 Loan 42,000 Owner's equity 50,000 Other expenses 20,500 Sales: bathroom products 124,000 Sales: bedroom products 1 15,000 Sales: dining room products 70,000 Wages expense 90,000 TOTAL $418,700 $418,700 REQUIRED: a. Prepare a nancial performance statement for the Home Store for the year ended 31 March 2020. Construct the statement so that it shows the gross prot for each department and the net prot for the business as a whole. (9 marks) b. Comment on principles you would use when evaluating the performance of the managers responsible for these departments. Apply the information in this question to illustrate your answer. (6 marks)