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 $310,000 Sales Region Central East $885,000 $704,000 References 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 (eeneral) General administrative expense Total corporate expenses Net operating income (loss) 95,000 106,000 56,000 8,900 19,000 12,000 296,900 237,000 241,000 53,000 16,100 30,000 28,000 605,100 318.000 236,000 105,000 13,500 27,000 39,000 738,500 13,100 199,900 (34,500) 14,000 19.000 33,000 $(19,900) 38,000 19.000 57,000 $142,900 33,000 19.000 52,000 $(86,500) 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 % I Central Amount East Amount Amount S 310,000 % 100 0 S 805,000 % 100.0 S 704,000 % 100.0 Sales Variable expenses Cost of goods sold Shipping expense | 0 | 0 0 Total variable expenses 00 0 0 0. 0 0 310000 0 0. 100.0 0 805,000 0 0. 100.0 0 0 704,000 0 100.0 Traceable food expenses Advertising Salaries Utilities Depreciation 0 000 Total traceable foxed expenses Regional segment margin Common faced expenses 0 0 0 0 0 0 $310.000 0 0 00704 000 100 0 S 305 000 0 001 Advertising (general) General administration Total common foved expense