1. Which of the following statements is true? OA segmented income statement should report the gross margin for each business segment. OA segment's contribution margin is the best gauge of its long-run profitability. OA segmented Income statement should ensure that each segment's variable expenses as a percentage of sales is the same. OA segmented income statement should separate traceable fixed costs from common fixed costs. 2. Common fixed expenses: O should be allocated to segments based on their respective sales O should be allocated to segments based on their respective fixed manufacturing overhead. O should not be allocated to segments. O should not be included in a segmented income statement.