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 companys first effort at preparing a segmented income statement for May is given below.

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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 Central West 311,000 East Sales 801,000 697,000 egional expenses (traceable) Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense 95,000 105,000 56,000 9,400 25,000 14,000 304,400 6,600 237,000 239,000 55,000 15,900 32,000 26,000 604,900 196,100 318,000 239,000 109,000 13,900 27,000 38,000 744,900 47,900 otal regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense 36,000 22,000 58,000 $ (27,400) 135,100 (105,900) 12,000 22,000 34,000 39,000 22,000 61,000 Total corporate expenses Net operating income (loss) 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.) 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.) Total Company West Central East Amount Amount Amount Amount Variable expenses Total variable expenses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Traceable fixed expenses Total traceable fixed expenses 0.0 0.0 S 0.0 0.0 $ 0.0 0.0$ 0.0 0.0 Common fixed expenses Total common fixed expense 0.0 Net operating income (loss) 0.0