2 1 Preet's Cosmetics, a wholesale distributor of women's beauty products, has been experiencing losses from some time. The following segmented data applies to the most recent period when the company had an operating loss of $40,000 Required: Lipstick Sales Perfume $800,000 $1,200,000 Variable expenses as a percentage (%) of sales Traceable fixed expenses 55% $276,000 45% $560,000 1. Prepare a segmented income statement, using the contribution approach and proper format. (11 marks). Round percentages to 1 decimal, i.e. 1.5. Enter any losses as a negative number with a minus sign in front, Le.-10. Common fixed expenses Contriution margin Operating income Operating loss Sales Segment margin Traceable fixed expenses silvariable expenses Total Company Lipstick Perfume Amount % Amount % Amount %