Required information Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (LO7-4, 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 officesone 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 $ 862,500 100.0% 465,750 54.0% 396,750 46.0% 193,200 22.4% 203,550 23.6% 138,000 16.0% $ 65,550 7.6% Office Chicago Minneapolis $ 172,500 100% $ 690,000 100% 51,750 30% 414,000 60% 120,750 70% 276,000 40% 89,700 52% 103,500 15% 31,050 18% 172,500 25% Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points