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: Sales Variable expenses Contribution margin Fixed expenses Operating loss $2,020,000 788,100 1,231,900 1,309,000 $177,100) 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 South Sales 5602,000 Variable expenses as a percentage of sales 50% Traceable fixed expenses $322,000 Central North $801,000 $617,000 305 499 $532,000 $382,000 Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president Total Company Geographie Market Central South North Sales wia per Contribution margin 0 0 d . 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president Geographic Market Central Total Company South North $ 0 0 0 0 Sales Variable expenses Contribution margin Traceable fixed expenses Geographic market segment margin Common fixed expenses not traceable to geographic markets Operating income $ 0 $ 0 $ 0 $ 0 $ 0 2-a. The company's sales manager believes that sales in the Central geographic market could be increased by 15% if monthly advertising is increased by $27000. Calculate the incremental net operating income Incremental niet operating income 2-b. Would you recommend the increased advertising