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 profits, management prepared the segmented income statement for May as shown below. Sales Region West Central East Sales $ 312,000 $ 796,000 $ 698,000 Regional expenses (traceable): Cost of goods sold 91,000 241,000 311,000 Advertising 103,000 240,000 242,000 Salaries 56,000 54,000 106,000 Utilities 8,800 16,400 14,300 Depreciation 22,000 33,000 27,000 Shipping expense 13,000 33,000 43,000 Total regional expenses 293,800 617,400 743,300 Regional income (loss) before corporate expenses 18,200 178,600 (45,300) Corporate expenses: Advertising (general) 14,000 40,000 35,000 General administrative expense 19,000 19,000 19,000 Total corporate expenses 33,000 59,000 54,000 Net operating income (loss) $ (14,800) $ 119,600 $ (99,300) 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. Note: Round percentage answers to 1 decimal place