Help Problem 6-26 (Algo) Restructuring a Segmented Income Statement (L06-4) Millard 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 $ 311,000 Sales Region Central East 5.799,000 5.702.008 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) 94,000 102,000 68,000 9,100 20,000 12,000 297, 100 13,900 239,000 239,000 54,000 16,100 30,000 26,000 604,100 194,900 315,000 235,000 110,000 13,900 29,888 40,000 742,900 (40,900) 17,000 22,000 39,800 5 (25, 100) 38,000 38,000 22,000 22,000 60,000 60.ee $ 134,900 $(100,900) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Help Save 2. Check my The cost of goods sold and shipping expense are both variable. All other costs are fored. Required: 3. Prepare a new contribution format segmented income statement for May (Round percentage answers to 1 decimal place.) 5 Poate Total Company Amount West Cantal Amount % Amount Amount Block Sales Variable expenses Cost of goods sold Shipping expense Print References Total variable expenses 0 0 -0.0 0.0 0 0 0 0 0.0 0.0 0.0 00 0 0.0 0.0 0 Traceable faxed expenses Advertising Salaries Us Depreciation Total traceable fred expenses 0.0 0.0 0 0 0 0 0 0.01$ 0.0 0 0 0.0 0.01$ 0,0 0.0 0 Common fixed expenses Advertising (general) General administration Me Gr