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Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by Its most recent monthly contribution format income statement: Sales Variable expenses $ 1,521,000 560, 360 Contribution margin 960, 640 Fixed expenses 1, 057, 000 Net operating income (loss) (96,360) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division East Central West Sales $371, 000 $640,000 $510,000 Variable expenses as a percentage of sales 352 Traceable fixed expenses $263,000 $320,000 $202,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $28,000 based on the belief that it would increase that division's sales by 11%. Assuming these estimates are accurate, how much would the company's net operating Income increase (decrease) if the proposal is Implemented? 2-b. Would you recommend the increased advertising? Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 28 Prepare a contribution format income statement segmented by divisions. Division Total Company East Central WestWingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales $ 1, 521,000 variable expenses 560, 360 Contribution margin 960, 640 Fixed expenses 1, 057,000 Net operating income (loss) $ (96,360) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division East Central West Sales $371,000 $640,000 $510, 000 Variable expenses as a percentage of sales 461 35 Traceable fixed expenses $263,000 $320,000 $202,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $28,000 based on the belief that it would increase that division's sales by 11%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease) if the proposal is Implemented? 2-b. Would you recommend the increased advertising? Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 28 The Marketing Department has proposed increasing the West Division's monthly advertising by $28,000 based on the belief that it would increase that division's sales by 11%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease) if the proposal is implemented? (Do not round intermediate calculations.) Net operating income will byWingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales $ 1, 521, 000 Variable expenses 560, 360 Contribution margin 960, 640 Fixed expenses 1, 057,000 Net operating income (loss) 196,360 In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division East Central West Sales $371, 000 $640,000 $510,000 Variable expenses as a percentage of sales 461 Traceable fixed expenses $263,000 $320,000 $202, 000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $28,000 based on the belief that it would increase that division's sales by 11%. Assuming these estimates are accurate, how much would the company's net operating Income increase (decrease) if the proposal is Implemented? 2-b. Would you recommend the increased advertising? Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 28 Would you recommend the increased advertising? OYes No