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 $760,000, 60%, and $45,600, respectively. The West Division's contribution margin and contribution margin ratio are $240,000 and 75%, respectively. The East Division's segment margin is $66,000. The company has $91,200 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