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: ped Sales Variable expenses ook ences Office Total Company $ 477,000 100% 238,500 50% 238,500 50% 133,560 28% 104,940 22% Chicago $ 159,000 100% 47,700 30% 111,300 70% Minneapolis $ 318,000 82,680 $ 28,620 52% 18% 100% 190,800 60% 127,200 40% 50,880 16% $ 76,320 24% 66,780 14% Contribution margin Traceable fixed expenses, Office segment margin Common fixed expenses not traceable to offices Net operating incone $18,160 8%