Music TeachersIncorporatedan educational association for music teachers that has $20\mathrm{.}400$ members. The association operates from a central headquarters but has local membership chapters throughout the United StatesMonthly meetings are held by the chapters to discuss recent developments on topics of interest to music teachers. The association's magazineTeachersForum Issued monthly with features about recent developments in the field. The association publishes books and reports and also sponsors professional courses that quality for continuing professional education creditThe association's statement of revenues and expenses for the current year is presented below $3,409,100$ Teachers, Incorporated Statement of Revenues and Expenses the Year Ended November Revenues Expenses Personnel costs Occupancy costs Reimbursement of costs to local chapters other membership services and paper Postage and shipping Instructorsfees General and administrative Total expenses Excess of revenues over expenses $986,000246,500214,000560,000345,000177,00072,00013,0003,143,500265,600$ The board of directors of Music Teachers, Incorporated, has requested that a segmented income statement be prepared showing the

per unit of $$25.$ Average costs per publication were $$4$ for printing and paper and $$2$ for postage and shipping.

e$.$ The association offers a variety of continuing education courses to both members and nonmembers. The one$-$day courses had a tuition cost of $$75$ each and were attended by $2,500$ students. A total of $1,860$ students took two$-$day courses at a tuition cost of $$125$ for each student. Outside instructors were paid to teach some courses.

f$.$ Salary costs and space occupied by division follow:

$\backslash$table$[[,,\backslash$table$[[$Space Occupied$],[($square feet$)]]],[$Membership$,$Salaries,$3,000],[$Magazine Subscriptions,$$219,000,1,000],[$Books and Reports,$155,000,1,000],[$Continuing Education,$330,000,2,000],[$Corporate staff,$188,000,3,000],[$Total$,94,000,10,000]]$

Personnel costs are $25\%$ of salaries in the separate divisions as well as for the corporate staff. The $$214,000$ in occupancy costs $($which can be allocated to segments based on their square feet occupied$)$ includes $$50,000$ in rental cost for a warehouse used by the Books and Reports Division for storage purposes. Assume that this cost could be avoided if the division were eliminated.

g$.$ Printing and paper costs other than for magazine subscriptions and for books and reports relate to the Continuing Education Division.

h$.$ General and administrative expenses include costs relating to overall administration of the association as a whole. The company's corporate staff does some mailing of materials for general administrative purposes.

The expenses that can be traced or assigned to the corporate staff, as well as any other expenses that are not traceable to the segments, will be treated as common costs. It is not necessary to distinguish between variable and fixed costs.

Required:

Prepare a segmented income statement for Music Teachers, Incorporated. This statement should show the segment margin for each division as well as results for the association as a whole.