ABC Company operates two divisions with the following sales and expense information for the month of May: Division 1: sales, $132,000; contribution margin ratio, 50%; direct fixed expenses, $27,000. Division 2: sales, $89,000; contribution margin ratio, 70%; direct fixed expenses, $17,500. ABC Companys total fixed expenses during May was $110,800. Required: Prepare a segmented income statement for ABC Company to determine the segment margin for Divisions 1 and 2 and the operating income for ABC Company