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 $500,000, 50%, and $25,000, respectively. The West Division?s contribution margin and contribution margin ratio are $142,500 and 75%, respectively. The East Division?s segment margin is $40,000. The company has $50,000 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.)