Assume the following percentages of total operating expenses for each segment are variable: a. Prepare a variable costing income statement for The Walt Disney Company by segment. Round all amounts to the nearest million. The Walt Disney Company (DIS) is a global entertainment company that is organized into four business segments as follows: Media Networks: Television production and distribution, including ABC television network, ESPN, National Geographic. Parks, Experiences, and Products: magazines. Studio Entertainment: Music and motion picture production and distribution, including Twentieth Century Studios, Marvel, and Lucasfilm. Direct-to-Consumer \& International: Streaming services, including Disney+, ESPN+, and Hulu. For a recent year, Disney reported the following segment results (in millions): Assume the following percentages of total operating expenses for each segment are variable: b. Compute the contribution margin ratio for each segment. Round ratios to the nearest tenth of a percent. c. Based on your answers to (a) and (b), interpret the segment performance. All segments generated a contribution margin, even though the Parks, Experiences, and Products and Direct-to-Consumer \& International segments generated operating generated the contribution margin and contribution margin ratio. The Parks, Experiences, and Products and Studio Entertainment segments generated approximately the . The Media Networks segment contribution margin ratios. were affected. Thus, the preceding results are of Disney's normal operations for these segments