Fashionisto Incorporated is an upscale clothing store in New York City and London. Each store has two main departments, Men's Apparel and Women's Apparel. Marie Phelps, Fashionisto's CFO, wants to use strategic performance measurement to better understand the company's financial results. She has decided to use the profit center method to measure performance and has gathered the following information about the two stores and the two departments of the New York City store: Total net sales Fixed costs Partly traceable and controllable Partly traceable but noncontrollable Nontraceable costs Total net sales (percent) London store New York store New York-Men's Apparel New York-Women's Apparel Cost of goods sold-variable (percent of sales) London store New York-Men's Apparel New York-Women's Apparel Variable operating costs (percent of sales) London store New York-Men's Apparel New York-Women's Apparel Fixed controllable costs-partly traceable (percent of total) London store New York total Men's Apparel Women's Apparel Could not be traced to Men's or Women's Apparel Could not be traced to London or New York Fixed noncontrollable costs-partly traceable (percent of total). London store New York total Men's Apparel Women's Apparel Could not be traced to Men's or Women's Apparel Could not be traced to London or New York $ 5,400,000 345,000 315,000 165,000 40% 60 40 60 528 45 60 36% 2020 2022 2022 20 50% 40 35 15 50 10 32 40% 40 45 40 15 20 Required: 1. Using this information, prepare a contribution income statement for Fashionisto. Net sales Variable cost COGS Operating cost Total variable cost Contribution margin Less: Controllable fixed costs Controllable margin Less: Noncontrollable fixed costs Net sales [Less: Nontraceable costs Net income Combined Company Not Allocated London Store New York Store Not allocated Men's wear Women's wear 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 $ 0