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 Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company Chicago Minneapolis $ 525,000 100.0% 283,500 54.0% 241,500 46.0% $ 105,000 100% $420,000 100% 31,500 30% 252,000 60% 73,500 70% 117,600 22.4% 54,600 52% 168,000 63,000 40% 15% 123,900 23.6% $ 18,900 18% $ 105,000 25% 84,000 16.0% $ 39,900 7.6%