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 East $ 802,000 $ 700,000 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) 95,000 105,000 57,000 9,000 19,000 14,000 299,000 12,000 245,000 239,000 53,000 16,300 30,000 30,000 613,300 188,700 312,000 238,000 113,000 13,600 28,000 36,000 740,600 (40,600) 16,000 20,000 36,000 $ (24,000) 43,000 20,000 63,000 $ 125,700 35,000 20,000 55,000 $ (95,600) 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 0.0 0 0.0 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0 $ 0 0.0 Common fixed expenses: Total common fixed expense 0 0.0 Net operating income (loss) $ 0 0.0