Required information SB Exercise 7-16 through Exercise 7-17 (Algo) [The following information applies to the questions displayed below.] Raner, Harris and 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 $ 37,440 $ 468,000 100% 234,000 50% 234,000 508 131,040 28% 102,960 228 65,520 148 8% Chicago $156,000 100% 46,800 30% Minneapolis $ 312,000 100% 187,200 60% 109,200 70 124,800 40% $ 28,080 81,120 52% 189 49,920 168 $ 74,880 24