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. Sales Region West Central East Sales $ 312,000 $ 796,000 $ 704,000 Regional expenses (traceable): Cost of goods sold 100,000 237,000 319,000 Advertising 109,000 239,000 238,000 Salaries 56,000 55,000 107,000 Utilities 8,800 16,300 14,300 Depreciation 25,000 30,000 28,000 Shipping expense 17,000 31,000 43,000 Total regional expenses 315,800 608,300 749, 300 Regional income (loss) before corporate expenses (3,800) 187,700 (45,300) Corporate expenses: Advertising (general) 16,000 38,000 36,000 General administrative expense 19,000 19,000 19,000 Total corporate expenses 35,000 57,000 55,000 Net operating income (loss) $ (38, 800) $ 130,700 $(100,300) 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. (Round percentage answers to 1 decimal place.) West Central East Total Company Amount % Amount % Amount Amount % Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)