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 $ 803,000 $ 310,000 $ 701,000 Sales Regional expenses (traceable): Cost of goods sold Advertising 95,000 106,000 51,000 240,000 237,000 59,000 16,200 310,000 241,000 106,000 14,300 26,000 40,000 Salaries Utilities 8,900 21,000 18,000 Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense 32,000 26,000 299,900 610,200 737,300 10,100 192,800 (36,300) 16,000 42,000 22,000 35,000 22,000 22,000 38,000 $ (27,900) 57,000 $ (93,300) Total corporate expenses 64,000 $ 128,800 Net operating income (loss) The cost of goods sold and shipping expense are both variable. All other costs are fixed. 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Total Company West Central East Amount Amount Amount Amount Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)