Segment Contribution Margin Analysis The Walt Disney Company (DIS) is a global entertainment company that is organized into four business segments as follows: Media Networks: Television production and dstribution, including ABC television network, ESPN, National Geographic: Parks, Experiences, and Products: Theme parks and resorts, including Walt Disney World and Disneyland; Experiences, including Disney Cruise Line and Disney Vacation Club; products, including Disney and Pixar characters, comic books, and magazines. Studio Entertainment: Music and motion picture production and distribution, including Twentieth Century Studios, Marvel, and Lucasfilm. pirect-to-Consumer 8 Intemational: streaming services, induding Disney+, ESPN+, and Hulu. For a recent year, Disney reported the following segment results (in millions): a. Prepare a variable costing incame statement for The Wait Disney Company by segment. If required, use a minus sign to indicate an operating loss. Round alt amounts to the nearest million. b. Compute the contribution margin ratio for each segment. Round ratios to the nearest tenth of a percent. c. Based on your answers to (a) and (b), interpret the segment performance. All segments generated a Contribution margin, even though the Parks, Experiences, and Products and Direct-to-Consumer 8. International segments generated operating The Media Networks segment generated the contribution margin and contribution margin ratio. The Parks, Experiences, and Products and Studio Entertalnment sepments generated approximately the contribution margin ratios. However, because of its size, the Parks, Experiences, and Products segment generated contrbution margin than the Studio Entertainment segment. The Direct-to-Consumer 8 International segment generated the contritution margin ratio and cantribution margin. The recent Covid-19 pandemic affected the preceding results. The Parks, affected. Thus, the preceding results ate of Disney's normal operations for these segments