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. West $ 311,000 Sales Region Central $ 803,000 East $ 696,000 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) 96,000 104,000 59,000 8,800 23,000 15,000 305,800 5,200 238,000 242,000 57,000 15,800 30,000 27,000 609,800 193,200 312,000 241,000 111,000 13,500 29,000 41,000 747,500 (51,500) 17,000 22,000 39,000 $ (33,800) 38,000 22,000 60,000 (133,200) 35,000 22,000 57,000 $ (108,500) 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 % Sales Variable expenses