Hard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below. West $313,000 Sales Region Central East $797,000 $701,000 Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating income (loss) 95,000 107,000 52,000 8,600 23,000 13,000 298,600 242,000 243,000 57,000 15,800 31,000 33,00 621,800 313,000 237,000 105,000 13,600 30,000 44,000 742,600 14,400 175,200 (41,600) 17,000 19,000 36,000 $(21,600) 39,000 19,000 58,000 $117,200 37,000 19,000 56,000 $(97,600) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Total Company Amount % West Amount Central Amount East Amount % % % Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)