Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results.

Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results.

	Hardware				Software
Sales	$	800,000			$	600,000
Variable costs (as a percentage of sales)		60	%			30	%
Traceable fixed costs	$	250,000			$	150,000

In addition, fixed costs common to both divisions amounted to $300,000.

Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each division. (Round your percentage answers to the nearest whole percent.)

Nicholas Technologies
Responsibility Income Statement
For the Current Month
	Entire Company			Hardware Services Division			Software Services Division
	Dollars	Percent of Sales		Dollars	Percent of Sales		Dollars	Percent of Sales
1			%			%			%
2
3			%			%			%
4
5			%			%			%
6
7			%

Answers for the 7 dropdowns are cash, common fixed cost, fixed cost traceable to each division, manufacturing overhead cost, sales, variable cost