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 $313.000 Sales Region Central 5795.000 East 695,000 Sales Regional expenses (traceable) Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (los) before corporate expenses Corporate expenses Advertising general) Generalinistrative expense Total corporate expenses Net operating income (los) 95.000 104.000 51.000 9,300 21.000 15,000 295,300 17.700 235.000 236.000 55.000 16.100 35,000 34.000 611,100 183.900 315,000 2010 110.000 14, 200 26,000 36,000 744,200 69,200) 17.000 19.000 36.000 $1,300 37.000 10.000 56.000 10200 61.000 12200 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.) 5. 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: Cost of goods sold Shipping expense . Total variable expenses 0.0 0.0 0. 00 0.0 0 0 0 0.0 Traceable fixed expenses Total traceable foed expenses 0 000 0. 00 0. 00 000 $ 000 000 $ 0 Common foxed expenses Total common foxed expense 000 Shipping expense Total variable expenses 0 0. 00 Traceable fixed expenses: Total traceable fixed expenses 0 0 0 0.0 0. 0.0 $ 0 0.01$ Common fixed expenses: Total common foxed expense Net operating income (loss) 0 . 0.0