Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement Sales Variable expenses Contribution margin Fixed expenses 1,551,000 613,630 937,370 1,031,000 (93,630) oints Net operating income (loss) Hint Print eferences In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information EastCentral Kest Sales Variable expenses as a percentage of sales Traceable fixed expenses $411,000 620,000 520,000 32 $290,000 $327,000 $197,000 538 374