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. West $ 314,000 Sales Region Central East $ 803,000 $ 701,000 Sales Regional expenses (traceable) Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating income (loss) 92.000 104,000 56,000 9,200 21,000 12,000 294,200 19,800 241,000 239,000 54,000 16,100 35,000 32,000 617,100 185,900 316,000 239,000 113,000 13,500 28,000 37,000 746,500 (45,500) 13,000 19,000 32,000 $ (12,200) 39,000 19.000 58,000 $ 127,900 37,000 19,000 56,000 $(101,500) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.)