Millard Corporation Is a wholesale distributor of office produds. It purchases office produds from manufacturers and distributes them in the West, Central, and East reglons. Each of these reglons is about the same slze and each has its own manager and sales staff. The company has been experlendng losses for many months. In an effort to improve performance, management has recuested that the monthly income statement be segmented by sales reglon. The company's first effort at preparing a segmented income statement for May is given below. The cost of goods sold and shipping expense are both varlable. All other costs are fixed. Requlred: 3. Prepare a new contribution format segmented income statement for May. (Round percentage ansuers to 1 decimal place.) Millard Corporation Is a wholesale distributor of office produds. It purchases office produds from manufacturers and distributes them in the West, Central, and East reglons. Each of these reglons is about the same slze and each has its own manager and sales staff. The company has been experlendng losses for many months. In an effort to improve performance, management has recuested that the monthly income statement be segmented by sales reglon. The company's first effort at preparing a segmented income statement for May is given below. The cost of goods sold and shipping expense are both varlable. All other costs are fixed. Requlred: 3. Prepare a new contribution format segmented income statement for May. (Round percentage ansuers to 1 decimal place.)