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 $ 312,000 Sales Region Central $ 800,000 East $ 702,000 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) 95,000 108,000 55,000 8,600 21,000 14,000 301,600 10,400 239,000 239,000 58,000 16,100 29,000 34,000 615, 100 184,900 315,000 239,000 107,000 14,200 28,000 39,000 742,200 (40,200) 16,000 22,000 38,000 $ (27,600) 37,000 22,000 59,000 $ 125,900 36,000 22,000 58,000 $ (98, 200) 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.) West Central East Total Company 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)