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: $2,120,000 915,740 Variable expenses Contribution margin Fixed expenses 1,204,260 1,329,000 Operating loss $ (124,740) 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: Geographic Market Sales Variable expenses as a percentage of sales Traceable fixed expenses South $612,000 52 $321,000 Central $811,000 353 $501,000 North $697,000 451 $312,000 Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president. Geographie Market Total South Central North Company 25 of 26 !!! MacBook Air