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Problem #3: Kate's Cosmetics, a wholesale distributor of women's beauty aids, Ias shown by its most recent income statement: Sales $500,000 Q variable expenses 220,000 Contribution margin $280,000 Less xed expenses 238,000 Operating income $2,000 CI The following data applies to the company's two product lines: Lipstick Perfume Sales $200,000 $300,000 Variable expenses as a percentage of sales 50% 40% Traceable xed expenses $72,000 $144,000 In addition to the Sales and Operating Income available from the Segmented Income Statement, Kate's Cosmetics has reported Average Operating Assets of $200,000 Required: (Enter Answers in Excel le) 1. Prepare a segmented income using contribution format. Also calculate contribution margin percent and segment margin percent (rounded to three decimals i.e. 10.9%). 2. Analyze the business results by determining which segment provides the most income for the company and which company provided the most income per $1 of sales revenue? ( 3. Calculate the Return on Investment (ROI) and Residual Income (RI) for the total company. The required rate of return is 15%. 4. The company is considering a new product launch which will increase operating income by $42,625 and also require an investment of $275,000 in new technology. a. Calculate the ROI and RI for the new product only b. What would you advise the company to do regarding the new product? Explain why