1. Modern Corporation has two divisions: East and West. Prepare a contribution margin income statement segmented by division.

The revenue for East was $5,000,000 and West was $3,000,000. The variable expenses for East is $3,000,000 and for West is $1,750,000. The traceable fixed expenses were $300,000 for East and $100,000 for West.. The common fixed expenses were $40,000