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ensiverest 2022 Soved Help Save 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 Variable expenses Contribution margin Fixed expenses Operating loss $2,090,000 873,540 1,216,460 1,323,000 5 (106,540) 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: Georraphic Market South central North Sales 5609,000 5885,000 5673,000 Variable expenses as a percentage of sales 57% 31 41% Traceable fixed expenses $329,000 $539,000 $309,000 Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president Geographic Market Total Company South Central North