n#2.pdf Segment Repert (20 points) Tracey Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent month contribution format income statement, which follows: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) 1,000,000 610,000 In an effort to isolate the problem, the president has asked for an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division East $250,000$400,000 $350,000 160,000$200,000 S Central West Sales variable-expensesas apercentage ofsales Traceable fixed 1-52% 30% 40% 1. Prepare a contribution format income statement segmented by divisions, as desired by the president. Division Central Total East West Sales Variable expenses Contribution Traceable fixed Common fixed expenses not traceable to Net operating income (loss)