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Required Information (The following information applies to the questions displayed below.) Raner, Harris & Chan is a consulting firm that specializes in information systems for
Required Information (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: Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $1,125,000 100.0% 607,500 54.08 517,500 46.08 252,000 22.49 265,500 23.68 180,000 16.08 $ 85,500 7.6% Office Chicago Minneapolis $ 225,000 100% $ 900,000 100% 67,500 308 5 40,000 60% 157,500 708 360,000 40 117,000 52% 135,000 159 $ 40,500 188 $ 225,000 25% . Assume that sales in Chicago increase by $75,000 next year and that sales in Minneapolis remain unchanged. Assume no change fixed costs. . Prepare a new segmented income statement for the company. (Round your percentage answers to 1 decimal place (i.e. 0.1234 hould be entered as 12.3).) Total Company Amount % Chicago Amount Segments Minneapolis Amount %
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