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 $ 314,000 Sales Region Central East $ 796,000 $ 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) 94,000 107,000 57,000 8,600 21,000 13,000 300,600 13,400 237,000 240,000 57,000 15,600 29,000 30,000 608,600 187,400 317,000 239,000 112,000 14,000 28,000 42,000 752,000 (56,000) 17,000 19,000 36,000 $ (22,600) 37,000 19,000 56,000 $ 131,400 34,000 19,000 53,000 $(109,000) 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.) Total Company Amount % West Amount % Central Amount % East Amount % Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)