Losses have been incurred at Millard Corporation for some time. In an effort to isolate the problem and improve the companys performance, management has requested that the monthly income statement be segmented by sales region. The companys first effort at preparing a segmented statement is given below. This statement is for May, the most recent month of activity.

Sales Region West Central East 312,000 796,000 701,000 Sales Regional expenses (traceable) Cost of goods sold 98,000 235,000 311,000 100,000 236,000 238,000 Advertising 55,000 109,000 Salaries 54,000 8,800 16,300 Utilities 13,800 28,000 19,000 Depreciation 9,000 30,000 43,000 Shipping expense 17,000 743,800 599,300 297,800 Total regional expenses Regional income (loss) 196,700 before corporate expenses (42,800) 14.200 Corporate expenses 38,000 Advertising (general) 35,000 14,000 General administrative expense 18,000 18,000 18.000 32,000 56,000 53,000 Total corporate expenses (17,800) 140,700 (95,800) Net operating income (loss) Cost of goods sold and shipping expense are both variable; other costs are all fixed. Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the three regions given above. The three regions are about the same size, and each has its own manager and sales staff. The products that the company distributes vary widely in profitability. Required 3. Prepare a new contribution format segmented income statement for May. Show a Total column as well as data for each region. In addition, for the company as a whole and for each sales region, show each item on the segmented income statement as a percent of sales. (Note: columns may not total due to rounding.) Round percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3)