6 Bovine Company, a wholesale distributor of umbrellas, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: 13 points 01:48:53 Sales Variable expenses $2,110,000 915,180 Contribution margin 1,194,820 1,327,000 $ (132,180) Fixed expenses Operating loss In an effort to isolate the problem, the president has asked for an income statement segmented by geographic market. Accordingly, the Accounting Department has developed the following: eBook Sales Print Variable expenses as a percentage of sales Traceable fixed expenses South Geographic Market Central $611,000 $810,000 $689,000 North 60% 32% 42% $320,000 $531,000 $311,000 Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president. Geographic Market Total Company South Central North