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) Vest $311,000 Sales Region Central $ 798,000 East $700,000 96,000 105,000 239,000 238,000 312,000 243,000 56,000 53,000 107,000 9, 200 16,500. 14, 200 23,000 18,000 34,000 28,000 31,000 307, 200 611,500 40,000 744, 200 3,800 186, 500 (44,200) 15,000 41,000 37,000 21,000 21,000 21,000 36,000 62,000 58,000 $ (32,200) $124,500 $ (102,200) 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.)