Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below. Sales Region West Central East Sales $ 314,000 $ 798,000 $703,000 Regional expenses (traceable): Cost of goods sold 92.000 238,000 317,000 Advertising 101,000 245,000 243,000 Salaries 51,000 56,000 111.000 Utilities 8,700 16,200 14,100 Depreciation 23,000 25,000 Shipping expense 16,000 35,000 Total regional expenses 618,200 751, 100 Regional Income (los) before corporate expenses 22.300 179,800 (43.100) Corporate expenses Advertising (general) 17,000 42,000 37,000 General administrative expenst 20,000 29.000 Total corporate expenses 37.000 62.000 Net operating income (loss) $ (14,700) $ 117,500 5 (105,100) 28,000 41,000 291,700 20,000 52.000 Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Central Total Company Amount % West Amount East Amount Amount % 94 Variable expenses Total variable expenses Traceable fixed expenses