Mini-Exercise 15-7 (Algo) Segmented income statement LO 8 ABC Company operates two divisions with the following sales and expense Information for the month of August: Division 1: sales, $148,000; contribution margin ratio, 50%; direct fixed expenses, $31,000. Division 2: sales, $101,000; contribution margin ratio, 70%; direct fixed expenses, $19,500. ABC Company's total fixed expenses during August was $125,200. Required: Prepare a segmented income statement for ABC Company to determine the segment margin for Divisions 1 and 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