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 $ 312,000 Central $800,000 East $ 700,000 92,000 237,000 315,000 100,000 241,000 236,000 57,000 52,000 111,000 8,900 15,800 14,100 24,000 35,000 26,000 13,000 27,000 45,000 294,900 607,800 747,100 17,100 192,200 (47,100) 15,000 38,000 36,000 20,000 20,000 20,000 35,000 58,000 56,000 $ (17,900) $ (134,200) $ (103,100) 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 Amount West Central East % Amount % Amount % Amount % 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 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 S 0 0.0 S 0 0.0 Common fixed expenses: Total common fixed expense 0.0 Net operating income (loss) $ 0 0.0