Required information SB Exercise 7-16 through Exercise 7-17 (Algo) [The following information applies to the questions displayed below] Raner, Harris and 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 Office Total Company $ 477,000 100% Chicago $ 159,000 100% 238,500 50% 47,700 30% Minneapolis $318,000 100% 190,800 238,500 50% 111,300 70% 133,560 28% 82,680 52% 127,200 50,888 60% 40% 16% 104,948 22% 66,780 14% $ 28,620 18% $ 76,320 24% Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating income $ 38,168 8%