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Hi I need an answer for this question within an hour Thank you Drenthe BV of the Netherlands is a wholesale distributor of Dutch cheeses

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image text in transcribed Drenthe BV of the Netherlands is a wholesale distributor of Dutch cheeses that it sells throughout the European Community. Unfortunately, the company's profits have been declining, which has caused considerable concern. To help understand the condition of the company, the managing director of the company has requested that the monthly income statement be segmented by sales territory. Accordingly, the company's accounting department has prepared the following statement for March, the most recent month. (The Dutch currency is the euro which is designated by .) Southern Europe Sales 539,000 Sales Territory Middle Northern Europe Europe 1,184,000 793,000 Territorial expenses (traceable): Cost of goods sold Salaries Insurance Advertising Depreciation Shipping 155,000 83,500 27,700 152,500 47,500 32,000 430,000 61,500 17,900 250,500 41,500 53,000 330,000 114,500 15,400 251,500 38,500 58,000 Total territorial expenses 498,200 854,400 807,900 Territorial income (loss) before corporate expenses 40,800 329,600 (14,900) Corporate expenses: Advertising (general) General administrative 37,000 48,500 60,800 40,900 62,700 67,500 Total corporate expenses 85,500 101,700 130,200 (44,700) 227,900 (145,100) Net operating income (loss) Cost of goods sold and shipping expenses are both variable; other costs are all fixed. Drenthe BV purchases cheeses at auction and from farmers' cooperatives, and it distributes them in the three territories listed above. Each of the three sales territories has its own manager and sales staff. The cheeses vary widely in profitability; some have a high margin and some have a low margin. (Certain cheeses, after having been aged for long periods, are the most expensive and carry the highest margins.) Required: 3. Prepare a new segmented contribution format income statement for May. Show a Total column as well as data for each territory. In addition, for the company as a whole and for each sales territory, show each item on the segmented income statement as a percent of sales. (Note: % columns may not total due to percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).)

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