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 Sales Region Centra East $ 796, 000 $ 702,000 $ 313,000 96,000 108,000 57,000 9,400 23,000 240,000 245,000 52,000 16,200 33,000 311,000 245,000 110,000 14,400 29,000 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) 17,000 28,000 310,400 2,600 614,200 181,800 36,000 745,400 (43,400) 14,000 19,000 33,000 $ (30,400) 42,000 19,000 61,000 $ 120,800 37,000 19,000 56,000 $ (99,400) 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 Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)