Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (L07-4, LO7-5] [The following information applies to the questions displayed below.] Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Total Company Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income $ 862,500 465,750 396,750 193,200 203,550 138,000 $ 65,550 100.0% 54.0% 46.0% 22.4% 23.6% 16.0% 7.6% $ 172,500 51,750 120,750 89,700 $ 31,050 Office Minneapolis 100% $ 690,000 100% 30% 414,000 60% 70% 276,000 40% 52% 103,500 15% 18% $ 172,500 25% Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even points