4. Income statement, regional territories, Tamiya Company's most recent income statement is shown below. The company's president is disappointed with the company's performance and is strategizing on what to do to improve profit. Tamiya Corporation Income Statement For the month ended, June 30, 2006 Sales Less: Cost of goods sold Gross profit Less: Fixed costs Net income Total P 1,200,000 480.000 720,000 400,000 P 320,000 NCR P 700,000 300,000 400,000 250,000 P 150,000 Southern Luzon P 500,000 180.000 320,000 150.000 P 170,000 The sales and costs records of the company disclose the following: 1. The company is divided into two sales territories, NCR and Southern Luzon. The NCR Region recorded 700,000 in sales and P300,000 in variable costs during July: the remaining sales and variable costs were recorded in the Southern Luzon Region. Fixed costs of P200,000 and P120,000 are traceable to the NCR and Southern Luzon Regions, respectively. The balance of the fixed costs are common to the two regions. 2. The company sells two products, Big and small. Sales of products Big and Small totaled P300.000 and P400,000, respectively, in the NCR Region during June. Variable costs are 40% of the selling price of Big and 45% for Small. Costs records show that P120,000 of the NCR Region's fixed costs are traceable to Big and P80,000 to Small, and that P90.000 of Southern Luzon's fixed costs are traceable to Big and P30,000 to Small Required: Prepare a segmented income statement for the regional territories broken down into products