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: Total Company $495,000 Chicago Office Minneapolis $ 165,000 100% $330,000 100 Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating income. $ 39,600 100% 247,500 508 247,500 50% 138,600 286 108,900 228 69,300 144 81 49,500 30% $ 29,700 115,500 70% 85,800 52 189 Exercise 7-17 (Algo) Working with a Segmented Income Statement [LO7-4] Assume that Minneapolis' sales by major market are: 198,000 60% 132,000 408 52,800 168 $ 79,200 241