Yearly data as followed:Division IDivision IIDivision IIISales$1,000,000$2,3600,000$1,600,000number of units sold500,000860,000320,000Contribution margin520,000950,000920,000Direct fixed costs118,500755,240463,800Allocated corporate costs40,960204,76076,200Average net operating assets$640,000$1,600,000$840,000Weighted-average cost of capital17%17%17%In addition, there are $190,000 in corporate costs which cannot reasonably be allocated to the divisions.Company ABC has a target rate of return of 20 percent, and is subject to a 30% tax rate. Division I was recently presented with an investment in a $105,000 piece of machinery that would save operating costs of $5,000 per year over a period of thirty years. The new machinery would replace a current piece of equipment that could be sold for $2,000 and has a book value of $10,000. The manager of Division I, with full decision rights on the matter, decided against replacing the current equipment.Q: Create a multilevel income statement, showing the three divisional incomes and the corporate net income for Company ABC