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 $ 2,190,000 Variable expenses 887,520 Contribution margin 1,302,480 Fixed expenses 1,343,000 Operating loss $ (40,520 ) 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 Central North Sales $ 619,000 $ 818,000 $ 753,000 Variable expenses as a percentage of sales 50 % 32 % 42 % Traceable fixed expenses $ 350,000 $ 528,000 $ 319,000 Required: 1. Prepare a contribution format income s