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 $ 313,000 Sales Region Central East $ 799,698 $ 7e3.ee 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) 96,00 104,000 57,eee 8,588 19,00 16,00 388,588 12,500 243,000 244,000 53,000 15,980 31, een 26,000 612,988 186, 108 318,eee 243,eee 113,eee 14,200 27,000 38,000 753,200 (50, 2ee) 16,800 20,000 36,608 $ (23,500) 39,000 20.ee 59,00 $ 127, 100 34, eee 20.ee 54,600 $ (104,200) 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.) West East Total Company Amount % Central Amount Amount % % Amount % Sales Variable expenses: Total variable expenses 0 0 0.0 0 0.01 0.0 0.0 0.0 0.0 0.0 0 0 0 0.0 0 Traceable fixed expenses Total traceable fixed expenses 0 0 0 0.0 0.0 0.0 0.0 s 0.0 0.00 $ 0.01 0.0 0 $ 0 0 0 Common fixed expenses 0 0.0 Total common fixed expense Net operating income (loss) 0 0.0