Income Statements Segmented by Products Clay Consulting Firm provides three types of client services in three health-care-related industries. The income statement for July is as follows: Clay Consulting Firm Income Statement For Month of July Sales $ 900,000 Less variable costs (605,000) Contribution margin 295,000 Less fixed expenses Service $ 70,000 Selling and administrative 65,000 (135,000) Net income $ 160,000 The sales, contribution margin ratios, and direct fixed expenses for the three types of services are as follows: Hospitals Physicians Nursing Care Sales $ 350,000 $ 250,000 $ 300,000 Contribution margin ratio 30% 40% 30% Direct fixed expenses of service $ 20,000 $ 18,000 $ 16,000 Allocated common fixed services expense $ 1,000 $ 1,000 $ 1,500 Prepare income statements segmented by client categories. Include a column for the entire firm in the statement.