Problem 6-26 Restructuring a Segmented Income Statement [LO6-4] Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below. West Sales Region Central East $ 798,000 $701,000 $ 313, 000 Sales Regional expenses (traceable)! Cont of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising general) General administrative expense Total corporate expenses Net operating income (loss) 93,000 103,000 53,000 9.000 21,000 17.000 296.000 17,000 236,000 239,000 57.000 15,700 35,000 25,000 607,700 190, 300 313,000 241,000 106,000 14,400 27,000 39,000 740,400 (39,400 - 12,000 22,000 34,000 $(17,000) 43,000 35,000 22,000 22,000 650005 7,000 $125,300 $ (96,400) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Total Company Amount % West Amount Central Amount East Amount % % % Variable expenses Total variable expenses 0 0 0 . 0.01 0 0. 00 0. 00 ol 0 0. 0 0.00 Traceable fixed expenses: Total traceable fixed expenses 0 0 0 0 0 0 0. 0.0 $ 0 0. 0.00 $ 0 0. 00 $ 0.0 0.0 0. 0 Common fixed expenses: Total common fixed expense Net operating income (loss) $ 0 0 0.0 0.0