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 $ 804,000 $ 701,000 Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (1033) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating income (loss) 94,000 105,000 53,000 8,900 22,000 12,000 294,900 16, 100 239,000 243,000 51,000 16,300 29,000 28,000 606, 300 197,700 318,000 245,000 111,000 14,400 27,000 45,000 760,400 (59,400) 17,000 20,000 37,000 $ (20,900) 42,000 20,000 62,000 $ 135,700 35,000 20,000 55,000 $(114,400) 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.)