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 Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries West $ 313,000 Central $ 799,000 East $ 695,000 91,000 237,000 312,000 105,000 236,000 240,000 51,000 52,000 105,000 Utilities 8,900 16,400 14,400 Depreciation 23,000 33,000 27,000 Shipping expense 16,000 28,000 37,000 Total regional expenses 294,900 602,400 735,400 Regional income (loss) before corporate expenses 18,100 196,600 (40,400) Corporate expenses: Advertising (general) 17,000 41,000 37,000 General administrative expense 21,000 21,000 21,000 Total corporate expenses 38,000 62,000 58,000 Net operating income (loss) $ (19,900) $ 134,600 $ (98,400) 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.)