The following monthly budgeted data are available for the Baxter Company:$5$V$6$DEFG$4$SalesVariable expenses as a percentage $(\%)$ of salesTraceable fixed expensesProduct C$$660,00060\%$$$85,800|$Product J$$1,040,00075\%$$$156,000$The budgeted OPERATING INCOME for the month is $$32,000.$Required:$1,$ Prepare a segmented income statement, using the contribution approach and proper format. $(11$ marks$),$ Round per decimal, i$.$e$,1\mathrm{.}5.$ Enter any losses as a negative number with a minus sign in front, i$.$e$.-10,$SalesVariable ExpensesContribution MarginTraceable fixed expensesOperating IncomeTotal CompanyAmount$\%$$$1,700,000$$$1,176,000$$$524,000$$$241,800$$$282,200$Product CAmount$$660,000$$$396,000$$$264,000$$$85,800$$$178,200\%100,0\%60\mathrm{.}0\%$