Michaels Company segments its income statement into its East and West Divisions. The companys overall sales, contribution margin ratio, and net operating income are $660,000, 51%, and $54,000, respectively. The West Divisions contribution margin and contribution margin ratio are $157,000 and 74%, respectively. The East Divisions segment margin is $74,000. The company has $51,000 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. (Input all amounts as positive values except losses which should be indicated by a minus sign. Round your percentage answers to 1 decimal place and all other answers to the nearest dollar amount.)

			Divisions
	Total Company		East		West
	Amount	%	Amount	%	Amount	%
(Click to select)Contribution marginVariable expensesCommon fixed expensesSalesTerritorial segment marginTraceable fixed expensesNet operating income (loss)	$		$		$
(Click to select)Contribution marginVariable expensesTerritorial segment marginCommon fixed expensesNet operating income (loss)Traceable fixed expensesSales
(Click to select)Contribution marginGross margin
(Click to select)Net operating income (loss)Variable expensesSalesTraceable fixed expensesTerritorial segment marginContribution marginCommon fixed expenses
(Click to select)Variable expensesNet operating income (loss)Contribution marginCommon fixed expensesSalesTraceable fixed expensesTerritorial segment margin			$		$
(Click to select)Common fixed expensesTerritorial segment marginVariable expensesTraceable fixed expensesNet operating income (loss)Contribution marginSales
(Click to select)Net operating lossNet operating income	$

23 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 $660,000, 51%, and S54,000 respectively. The West Division's contribution margin and contribution margin ratio are $157,000 and 74%, respectively. The East Division's segment margin is $74,000. The company has $51,000 of common fixed costs that cannot be traced to either division. Required: Prepare an income statement for Michaels Company that uses the contribution fomat and is segmented by divisions. (Input all amounts as positive values except losses which should be indicated by a minus sign. Round your percentage answers to 1 decimal place and all other answers to the nearest dollar amount. Total Compan Amount (Click to select) (Click to select) (Click to select) Click to selec Click to selec (Click to select Click to selec Amount Divisions Wes Amount