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The Walt Disney Company (DIS) is a global entertainment company that is organized into four business segments as follows: Media Networks: Television production and eistribution, including ABC television network, ESPN, Nationel Geographic. Parks, Experiences, and Products: Theme parks and resorts, includ ng Walt Disney Worid and Disneyland; Experiences, ineluding Disney Cruise Line and Disney Vacation Club; Products, ineluding Disney and Pixar books, and magazines. Studio Entertainment: Music and motion pleture production and distribution, including Twentieth Contury Studios, Marral, and tucasfilm. Direct-to-Consumer 5 finternational: Streaming services, lnelueing, Disney+, ESPN+, and Hulu. Fot a recent year, Disney reported the following segment results (in millions): Assume the following percentoges of total operating expenses foc esch segment are variable: a. Prepare a variable costing income statemant tor The Walt Disney Company by segment. If required, use a minus sign to indicate an operating toss. Round all amounts to t million. a. Prepare a variable costing income statement for The Walt Disney Company by segment. If required, use a minus sign to indicate an operatin million. Feedbark Y Check My Work Partially cortect 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 performence. All segments generated a contribution margin, even though the Parks, Experiences, and Products and Direct-to-Consumer g International V. The Media Networks segment generated the segments generated approximately the contribution margin and contribution margin ratio. The Parks, Experiences, 1 Omthibution margin ratios. However, because of its size, the Parks, Experiences, and Products segmer Duton margin than the Studio Entertainment segment. The Direct-to-Consumer a international segment generated the contribution margin. The recent COVTD-19 pandemic affected. Thus, the preceding results are affected the preceding results, The Parks, Experiences, and Products and Studio Ent of Disney's normal operations for these segments

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