Required information Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (LO7-4, LO7-5) (The following information applies to the questions displayed below.) Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 862,500 100.00 465,750 54.08 396,750 46.08 193,200 22.48 203,550 23.68 138,000 16.08 $ 65,550 7.68 Office Chicago Minneapolis $ 172,500 100% $ 690,000 1008 51,750 30% 414,000 608 120, 750 70% 276,000 40% 89,700 52% 103,500 15% $ 31,050 18% $ 172,500 258 Exercise 7-16 Part 2 2. Assume that sales in Chicago increase by $57,500 next year and that sales in Minneapolis remain unchanged. Assume no change in fixed costs. a. Prepare a new segmented income statement for the company. (Round your percentage answers to 1 decimal place (i.e. 0.1234 should be entered as 12.3).) Segments Total Company Chicago Minneapolis Amount % Amount % Amount % 0 0.0 0 0.0 0 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0 $ 0.0