Itranscript Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes the 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 tha the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statemer for May is given below. 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) West $ 312,000 Sales Region Central $ 797,000 East $ 701,000 94,000 243,000 310,000 102,000 236,000 235,000 53,000 54,000 112,000 8,600 16,400 13,700 19,000 29,000 30,000 17,000 33,000 43,000 293,600 611,400 743,700 18,400 185,600 (42,700) 17,000 43,000 34,000 21,000 21,000 21,000 38,000 64,000 55,000 $ (19,600) $ 121,600 $ (97,700) 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.)