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 West Central East Sales 312,600 $ 795,000 $ 699,000 Regional expenses (traceable): Cost of goods sold 93,000 242,000 316,000 Advertising 107,000 244,000 239,000 Salaries 56,000 $1,000 113,000 Utilities 8,500 16,200 13,800 Depreciation 23,000 28,000 30,000 Shipping expense 13,000 33,000 41,000 Total regional expenses 300, 500 614,200 752,800 Regional income (loss) before corporate expenses 11,500 180,800 (53,880) Corporate expenses: Advertising (general) 18,000 37,000 34,000 General administrative expense 18,000 18,000 18,000 Total corporate expenses 36,000 55,000 52,000 Net operating income (loss) $ 124,500) (125, 800) $ (105,880) 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.) West Central East Total Company Amount % Amount % Amount % Amount % Variable expenses: 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 0 Traceable fixed expenses + Total traceable fixed expenses 0 0.0 0 00 0 0.0 0 0.0 00 0 0.0 5 0 0.00 $ 0 0.0 $ 0 Common fixed expenses 0 Total common fixed expense Net operating income (s) 00 $ O 00