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: Sales Variable expenses Chicago $ 159,000 100% 47,700 30% Office Minneapolis $318,000 100% 190,800 60% Total Company $ 477,000 238,500 50% 238,500 50% 133,560 28% 100% 111,300 70% 82,680 104,940 22% 66,788 14% $ 28,620 52% 18% 127,200 40% 50,880 16% $ 76,320 24% Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income $ 38,160 8%