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Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $460,000,

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Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $460,000, 50%, and $36,800, respectively. The West Division's contribution margin and contribution margin ratio are $127,500 and 75%, respectively. The East Division's segment margin is $36,000. The company has $55,200 of common fixed costs that cannot be traced to either division. Required Prepare an income statement for Michaels Company that uses the contribution format and is segmented by divisions. (Round your percentage answers to 1 decimal place.) Divisions Total Company East West Amount Amount Amount Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income 0 0.0 0.0 0.0 0 0.0 0.0 0.0 0 0.0

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