Check 5 Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them In the West, Central and East regions. Each of these regions is about the same size and each has its own manager and sales staff The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below. West: $ 314,000 Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating incon (loss) 94,000 106,000 59,000 9,100 20,000 17.000 305, 100 B, Sales Region Central East $ 798,000 $ 695,000 243,000 319,00 240,000 242,000 57,000 110,000 16,400 14,100 34,000 27.000 26,000 44,000 616,400 756, 100 181,600 (61,100 43,000 33,000 22,000 22.de 55,000 $ 116,600 $(116,100) 17,000 22.000 39,00 $ (30,100) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May (Round percentage answers to 1 decimal place.) East West Total Company Amount Central Amount Amount Amount Variable expenses 5 of 5 il Next