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: Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 825,000 100.0% 445,500 54.0% 379,500 46.0% 184,80 22.4% 194,700 23.6% 132,000 16.08 $ 62,700 7.6% Office Chicago Minneapolis $ 165,000 100% $ 660,000 100% 49,500 30% 396,000 60% 115,500 70% 264,000 40% 85,8 52% 99,00 15% $ 29,700 18% $ 165,000 25% Exercise 7-16 Part 2 2. Assume that sales in Chicago increase by $55,000 next year and that sales in Minneapolis remain unchanged. Assume no change in fixed costs. a. Prepare a new segmented income statement for the company. (Round your percentage answers to 1 decimal place (i.e. 0.1234 should be entered as 12.3).) Segments Chicago Minneapolis Total Company Amount % Amount % Amount % 0 0.0 0 0.0 0 0.0 Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to segments Net operating income 0 0.0 $ 0 0.0 $ 0 0.0 0 0.0