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: 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: Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president. 2-a. The company's sales manager believes that sales in the Central geographic market could be increased by 10% if monthly advertising is increased by $32,000. Calculate the incremental net operating income. Common fixed expenses not traceable to geographic markets Sales Traceable fixed expenses Variable expenses Variable expenses Geographic market segment loss Geographic market segment margin