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 Central $ 798,000 West Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries $ 314,000 East $ 699,000 92,000 109,000 242,000 315,000 242,000 240,000 50,000 56,000 110,000 Utilities 8,600 16,400 14,200 Depreciation 22,000 30,000 30,000 Shipping expense 15,000 26,000 38,000 Total regional expenses 296,600 612,400 747,200 Regional income (loss) before corporate expenses 17,400 185,600 (48,200) Corporate expenses: Advertising (general) 14,000 39,000 33,000 General administrative expense 19,000 19,000 19,000 Total corporate expenses 33,000 58,000 52,000 Net operating income (loss) $ (15,600) $ 127,600 $ (100,200) 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.) Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss) Total Company Amount West Central East % Amount % Amount % Amount %