Exercise 6-16 Working with a Segmented Income Statement; Break-Even Analysis (LO6-4, LO6-5] (The following information applies to the questions displayed below.] Raner, Harris & Chan is a consulting firm that specializes in Information systems for medical and dental clinics. The firm has two officesone in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 787,500 100.0% 425, 250 54.9% 362,250 46.0% 176,480 22.4% 185,850 23.6% 126, eee 16.0% $ 59,850 7.6% Office Chicago Minneapolis $ 157, 580 100% $ 639, eee 100% 47,250 30% 378,000 60% 110,250 70% 252, e80 40% 81,900 52% 94,500 15% $ 28, 350 18% $ 157,580 25% Exercise 6-16 Part 3 3. Assume that sales in Chicago Increase by $52,500 next year and that sales in Minneapolis remain unchanged. Assume no change In fixed costs. a. Prepare a new segmented Income statement for the company. (Round your percentage answers to 1 decimal place (I.e. 0.1234 should be entered as 12.3).) Answer is complete but not entirely correct. Segments Chicago Minneapolis Total Company Amount % Amount % Amount % Sales $ 840,000 100.0 $ 210,000 100.0 $ 630,000 100.0 441,600 X 1.0 X 1 X 1.0 X 378,000 60.0 Variable expenses Contribution margin Traceable fixed expenses 99.0 200,999 99.0 252,000 40.0 OOO 398,400 176,400 222,000 21.0 81,900 39.0 94,500 15.0 78.0 $ 128,009 60.0 $ 157,500 25.0 Office segment margin Common fixed expenses not traceable to segments Net operating income 126,000 15.0 $ 96,000 63.0