Clay Consulting Firm provides three types of client services in three health-care-related industries. The income statement for July is as follows: Clay Consulting Firm Income Statement For Month of July Sales Less variable costs Contribution margin Less fixed expenses 900,000 (650,000) 250,000 Service $(70,000) Selling and administrative 65,000) (135,000) Net income 115,000 The sales, contribution margin ratios, and direct fixed expenses for the three types of services are as follows: Hospitals Physicians Nursing Care 300,000 25% $16,000 1,500 Sales $350,000 250,000 35% $20,000 18,000 Allocated common fixed service expenses 1,000 1,000 margin ratio 25% Direct fixed expenses of service Prepare income statements segmented by client categories. Include a column for the entire firm in the statement. Use negative signs with all answers relating to expenses and costs Clay Consulting Firm Product and Company Income Statements For the Month of July Company Totals Hospitals Physicians Nursing Care Sales Variable costs Contribution margin Direct fixed expenses Product margin Allocated common costs Product income Unallocated common expenses