Exercise 6-11 Segmented Income Statement [LO6-4] Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for sa time, as shown by its most recent monthly contribution format income statement, which follows: Sales Variable expenses $1,550,000 596,900 Contribution margin Fixed expenses 953,100 ,048,000 Net operating income (oss) $ (94,900) In an effort to isolate the problem, the president has asked for an income statement segmented by division. Accordingly, the Accounting Department has developed the following information Division Central 380,000 $660,000 $510,000 East West Sales Variable e Traceable fixed expenses 55% 24% 45% 287,000 $337.000 $204,000 Required: 1, Prapare a contuibutin format income statement segmented by divisions, as desired by the president Division Central Total Company East S 1,550,000 S 380,000 s 660,000 Variable expanses Contribution margin 596.900 209.000 158400 953,100 171.000 501.600 2 raceablo fxed excenses