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Bovine Company, a wholesale distributor of umbrellas, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement Sales $2, 190,000 Variable expenses 887,520 Contribution margin 1,302,480 Fixed expenses 1,343,000 Operating loss $ (40,520) In an effort to isolate the problem, the president has asked for an income statement segmented by geographic market. Accordingly, the Accounting Department has developed the following: Geographic Market South Central North Sales $619,000 $818,000 $753,000 Variable expenses as a percentage of sales 50% 32% 42% Traceable fixed expenses $350,000 $528,000 $319,000 Q3 a. Prepare a contribution format income statement segmented by geographic market