Segmented Income Statement Gorman Nurseries Inc. grows poinsettias and fruit trees in a green houseursery operation. The following information was provided for the coming year Poinsettias Fruit Trees Sales $970,000 $3,100,000 Variable cost of goods sold 460,000 1,630,000 Direct fixed overhead 160,000 200,000 A sales commission of 4% of sales is paid for each of the two product lines. Direct fixed selling and administrative expense was estimated to be $146,000 for the poinsettia line and $87,000 for the fruit tree line Common fixed overhead for the nursery operation was estimated to be $400,000; common selling and administrative expense was estimated to be $450,000 Required: Prepare a segmented income statement for Gorman Nurseries for the coming year, using variable costing, Note: Enter all amounts as positive numbers except operating loss, if applicable. Gorman Nurseries Ins Gorman Nurseries Inc. Segmented Income Statement For the Coming Year Poinsettias Fruit Trees Total Sales Less variable expenses: Variable cost of goods sold Variable selling expense Contribution margin Less direct fixed expenses: Direct fixed overhead DDI OD -/ Direct selling and administrative Segment margin Less common fixed expenses: Common fixed overhead Common selling and administrative Operating Loss