Problem 6-21 Segment Reporting and Decision-Making L06-4] Vulcan Company's contribution format Income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 3e Sales Variable expenses Contribution margin Fixed expenses Net operating income $85e,8e8 388,888 542,888 498,8e8 $ 52,ee Management is disappointed with the company's performance and is wondering what can be done to Improve profits. By examining sales and cost records, you have determined the following: a. The company Is divided Into two sales territories-Northern and Southern. The Northern Territory recorded $400,000 In sales and $200,000 In varlable expenses during June; the remalning sales and varlable expenses were recorded In the Southern Territory Flxed expenses of $152,000 and $126,000 are traceable to the Northern and Southern Territorles, respectively. The rest of the fixed expenses are common to the two territorles. b. The company Is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $180,000 and $220,000, respectively. In the Northern territory during June. Variable expenses are 28% of the selling price for Paks and 68% for Tibs. Cost records show that $86,400 of the Northern Territory's fixed expenses are traceable to Paks and $46,200 to Tibs, with the remalnder common to the two products. Required 1-a. Prepare contribution format segmented Income statements for the total company broken down between sales territories. 1-b. Prepare contribution format segmented Income statements for the Northern Territory broken down by product line Complete this question by entering your answers in the tabs below Req 1A Req 18 Prepare contribution format segmented income statements for the total company broken down between sales territories. (Round the percentage answers to one decimal place (i.e .1234 should be entered as 12.3).)