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 795.000703,000 Ment East $311,000 Sales Regional expenses (traceableji Cost of goods sold Advertising Salaries 96,000 103,000 59,000 9300 20,000 13,000 241.000 241,000 $1,000 16,000 32,000 32,000 413,000 182000 311.000 235,000 113,000 14,300 28,000 39.000 740,300 Depreclation Ahipping expense Total regional expenses Regional intone (loan) befere corporate expenses Corporate erpenses Advertising (general) General adninistrative expenae Total corporate expenses 10,100 42,000 20.000 000 $ 120,000 36,000 20,000 56.000 S (93,300) 14,000 20,000 Net operating Incone (loss) S (23, 300) 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.)