Required Information Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (L07-4, L07-5) [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 $ 537,500 100.ex 344,250 54. 293, 250 46.9% 142,800 22.4% 158, 45e 23.6% 102, 80e 16.8% $ 48,450 7.6% Office Chicago Minneapolis $ 127,500 100% $ 510, eee 100% 38,250 30% 386,000 6e 89,25 70% 204,000 48% 66,309 52% 76,500 15% $ 22,950 18% $ 127,500 25% Exercise 7-16 Part 2 2 Assume that sales in Chicago increase by $42,500 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 Amount Minneapolis Amount Amount 0 0.0 0 0.0 0.0 0 0.0 S 0 0.0 % 0 0.0 S 0 0.0