Problem 6-26 (Algo) Restructuring a Segmented Income Statement [LO6-4] Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below. Sales Region Sales Regional expenses (traceable): Cost of goods sold Advertising Salaries Utilities Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating income (loss) West $ 311,000 Central $ 795,000 East $ 702,000 94,000 108,000 238,000 311,000 239,000 236,000 52,000 50,000 110,000 9,100 15,600 14,200 24,000 32,000 26,000 16,000 32,000 38,000 303,100 606,600 735,200 7,900 188,400 (33,200) 16,000 42,000 36,000 19,000 19,000 19,000 35,000 61,000 55,000 $ (27,100) $ 127,400 $ (88,200) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.)