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 stoff. 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. Wout 6.311.000 Sales Region Contri Baot $ 796,000 $ 696,000 Sales Regional expenses (traceable) Coat of goods sold Advertising Salaries LELOR Depreciation hipping expense Total regional expenses Regional income (loan) before corporate expenses Corporate expenses Advertising (general) General administrative expense Total corporate expenses Het operating income (lon) 98,000 104,000 55,000 9,200 25,000 14,000 305200 5,000 236,000 236,000 60,000 15,800 53,000 34,000 610,000 101,200 43,000 22.000 65.000 6116,200 919.000 241,000 112.000 14.500 26.000 39,000 15500 157,5001 ces 16,000 22.000 30.000 $ (32,200) 35,000 22.000 57.000 $4114,500) 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 Total Company Amount Central Amount Amount Amount Variable expenses Total variable expenses Traceable fixed expenses: Total traceable foxed expenses Common fixed expenses Total common fixed expense Net operating income (losa)