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 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) Sales Region West $ 313,000 Central $ 797,000 East $ 700,000 96,000 103,000 239,000 315,000 244,000 239,000 58,000 57,000 109,000 8,800 16,400 14,000 18,000 31,000 28,000 14,000 32,000 41,000 297,800 619,400 746,000 15,200 177,600 (46,000) 14,000 39,000 34,000 21,000 21,000 21,000 35,000 60,000 55,000 $ (19,800) $ (117,600) $ (101,000) 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.) Variable expenses: Total Company West Central Amount % Amount % Amount % Amount East % Total variable expenses 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 Traceable fixed expenses: Total traceable fixed expenses 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0 $ 0 0.0 Common fixed expenses: Total common fixed expense 0 0.0 Net operating income (loss) $ 0 0.0