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. West $ 310, see Sales Region Central East $ 801,000 $ 697,000 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 Het operating income (loss) 91,800 109,000 59,000 8,989 22,000 12,000 301,900 8,100 239,800 235,000 60,000 16,300 33,000 29,000 612,300 188,700 310,000 240,000 111,080 14,388 25,000 43,000 743,300 (46,300) 16,000 19,000 35,000 $ (26,900) 41,800 19,000 60, eee $ 128,700 35,000 19,000 54,000 $(100, 300) 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.) Total Company West Central East Total Company Amount West Amount Central Amount E Amount 4 Variable expenses Total variable expenses Traceable fixed expenses Total traceable fixed expenses Common fixed expenses Total common fixed expense Net operating income (loss)