Mini-Exercise 15-7 (Algo) Segmented income statement LO 15-8 ABC Company operates two divislons with the following sales and expense information for the month of May: Division 1: sales, $150,000; contribution margin ratio, 50\%; direct fixed expenses, $31,500. Division 2: sales, $102,500; contribution margin ratio, 70\%; direct flxed expenses, $19,750. ABC Company's total fixed expenses during May was $127,000. Requlred: 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