Required information Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (L07-4, LO7-5) [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 offices-one 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 $1,050,000 100.00 567.000 54.00 483,000 235, 200 22.40 247,800 23.60 168,000 16.00 S 79,800 7.68 office Chicago Minneapolis $ 210,000 1000 $ 840,000 1008 63.000 301 504,000 603 147,000 700 336,000 401 109,200 520 126,000 151 $ 37,800 $ 210,000 256 180 Exercise 7-16 Part 3 3. Assume that sales in Chicago increase by $70,000 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 (.e. 0.1234 should be entered as 12.3).) Common fixed expenses not traceable to offices Net operating income 168,000 79, 800 16.00 7.60 3 Exercise 7-16 Part 3 3. Assume that sales in Chicago increase by $70,000 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 (.e. 0.1234 should be entered as 12.3).) Segments Total Company Amount % Chicago Amount Minneapolis Amount % 0 0.0 0 0.0 0 0.0 0 0.0 S 0 0.0 $ 0 0.0 $ 0 0.0