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 $2,120,000 915,740 1,204,260 1,329,000 $ 1124,740) 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: Sales Variable expenses as a percentage of sales Traceable fixed expenses Geographic Market South Central North 4612,000 5811,000 5697.000 520 358 456 $321,000 5501,000 $312.000 Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president Geographic Market Total Company South Central Word Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president. Geographic Market Total Company South Central North 2-a. The company's sales manager believes that sales in the Central geographic market could be increased by 14% # monthly advertising is increased by $37,000. Calculate the incremental net operating income. Incremental net operating income