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: Office $ $ $ Total Company 450,000 100% 225,000 50% 225,000 50% 126,000 28% 99,000 22% 63,000 36,000 Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Chicago 150,000 45, 000 105,000 78,000 27,000 100% 30% 70% 52% 18% Minneapolis 300,000 100% 180,000 60% 120,000 40% 48,000 72,000 24% 16% $ $ 14% $ Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even points? Complete this question by entering your answers in the tabs below. Show less Req 1A Req 1B Req 10 Compute the companywide break-even point in dollar sales. (Round "CM ratio" to 2 decimal places.) Break-even point in dollar sales Reg 1A Req 1B Req 10 Compute the break-even point for the Chicago office and for the Minneapolis office. (Round "CM ratio" to 2 decimal places and final answers to the nearest whole dollar amount.) Break-Even Point Chicago office Minneapolis office Req 1A Reg 1B Req 1C Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even points? O Greater than OLess than O Equal to