Required information SB Exercise 7-16 through Exercise 7-17 (Static) [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 Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 450,000 100% 225,000 50% 225,000 50% 126,000 288 99,000 22% 63,000 14% $ 36,000 8% office Chicago Minneapolis $ 150,000 1009 $ 300,000 100% 45,000 30% 180,000 60% 105,000 708 120,000 40% 78,000 528 48,000 168 $ 27,000 18% $ 72,000 248 Exercise 7-16 Part 1 (Static) Working with a Segmented Income Statement; Break-Even Analysis [LO7-4, LO7-5) 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