Shoe Shock Innovations manufactures athletic shoe inserts that cushion the foot and reduce the impact of exercise on the joints. The company has two divisions, Sole Inserts and Heel Inserts. A segmented income statement from last month follows. Sole Inserts Division Heel Inserts Division Total Shoe Shock Sales revenue $497,000 $2,544,000 $3,041,000 Less variable expenses 300,000 2,036,000 2,336,000 Contribution margin 197,000 508,000 705,000 Less traceable fixed expenses 120,400 349,200 469,600 Segment margin $76,600 $158,800 235,400 Common fixed costs 172,900 Net operating income $62,500 Chris Kelly is Shoe Shocks sales manager. Although this statement provides useful information, Chris wants to know how well the companys two distribution channels, specialty footwear stores and drug stores, are performing. Marketing data indicates that 20% of sole inserts and 75% of heel inserts are sold through specialty footwear stores. A recent analysis of corporate fixed costs revealed that 50% of all fixed costs are traceable to specialty footwear stores and 45% of all fixed costs to drug stores. Prepare a segment margin income statement for Shoe Shocks two distribution channels.