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. Nest $313.000 Sales Region Central $ 799,000 5.697,000 Sales Regional expenses (traceable) Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (los) before corporate expenses Corporate expenses Advertising (general) General administrative expense Total corporate expenses Bet operating income (loss) 100,000 101,000 56.000 9.200 19,000 13,000 298, 200 14.800 242,000 235.000 57.000 16,300 32,000 30,000 613.300 185,700 313,000 241,000 105,000 14,000 28,000 41,000 742,000 45,000) 13,000 20.000 33,000 $ (18,200) 38,000 20,000 58,000 $ 127.700 33,000 20,000 53,000 $(98,000) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) West Total Company Amount % Central Amount East Amount Amount % % % bok Sales 100,0 100.0 int Variable expenses Cost of goods sold Shipping expense 4.7 0 4.7 0 0.0 0 0.0 0 0.0 0 95.3 0 100.0 0 0.0 0 0.0 Total variable expenses Contribution margin Traceable foxed expenses Advertising Salarios Utilities Check my work Utilities Depreciation 0 0.0 0 0.0 0 0.0 0.01$ 0 0 0.0 0.0 0 95.3 $ 0 100,0 $ 0 Total traceable foxed expenses Regional segment margin Common fixed expenses Advertising (general) General administration 0 0.0 Total common fixed expense Net operating income (loss) $ 0 95.3