Mini-Exercise 15-7 (Algo) Segmented income statement LO 15-8 ABC Company operates two divisions with the following sales and expense information for the month of May: Division 1: sales, $128,000; contribution margin ratio, 50%; direct fixed expenses, $26,000. Division 2: sales, $86,000; contribution margin ratio, 70% ; direct fixed expenses, $17,000. ABC Company's total fixed expenses during May was $107,200. Required: Prepare a segmented income statement for ABC Company to determine the segment margin for Divisions 1 and 2 and the operating income for ABC Company. Sales Variable expenses Contribution margin Direct fixed expenses Segment margin Common fixed expenses Operating income Total Company Division 1 Division 2