Question: Help Millard Corporation is a wholesale distributor of office products.

Problem 6-26 (Algo) 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 $ 311,080 Sales Region Central $ 800,000 East $ 702,000 Sales Regional expenses (traceable): Cost 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 Het operating income (loss) 99,000 106,000 53,000 9,800 19,000 15,000 301,000 10,000 244,000 240,000 60,000 15, 680 30,000 26,000 615,600 184,400 317,000 245,000 111,000 14,300 27,800 44,000 758,300 (56,308) 13,000 21,00 34,000 5 (24,000) 42,eee 21,080 63. eee $ (121,400) 34,000 21,600 55,000 $ (111,300) 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 West Central East Amount % Amount % Amount % Amount Sales Variable expenses Cost of goods sold Shipping expense Total variable expenses 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 Contribution margin Traceable fixed expenses 0 0.0 0 0.0 0 0.0 Salaries Utilities Advertising Depreciation Total traceable fixed expenses 0 00 0 0.0 0 0.0 0 0.0 0 0.0 $ 0 0.0 $ 0 00 $ 0 0.0 Regional segment margin Common fixed expenses Advertising (general) General administration Total common fixed expense 0.01