Required information SB Exercise 7-16 through Exercise 7-17 (Static) [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: Office Total Company Chicago Minneapolis Sales $ 450,000 1 $ 150,000 1008 $ 300,000 100% Variable expenses 225 ,000 508 45, 000 30% 180, 000 603 Contribution margin 225,000 508 105,000 708 120,000 401 Traceable fixed expenses 126,000 288 78, 000 528 48, 000 168 office segment margin 99,000 228 $ 27,000 18% $ 72,000 248 Common fixed expenses not traceable to offices 63, 000 148 Net operating income $ 36, 000 Exercise 7-16 Part 3 (Static) Working with a Segmented Income Statement; Break-Even Analysis [LO7-4, LO7-5] 3. Assume that sales in Chicago increase by $50,000 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 (i.e. 0.1234 should be entered as 12.3).) Segments Total Company Chicago Minneapolis Amount % Amount % Amount % 0.0 0 0.0 0 D.O 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0