11.00 points Exercise 6-7 Segmented Income Statement [LO6-4] Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are S500,000, 50%, and S25.000, respectively The North Division's contribution margin and contribution margin ratio are $142500 and 75%, respectively. The South Division's segment margin is $40,000. The company has $50,000 of common fixed expenses that cannot be traced to either division Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3) Divisions Total Company North South Amount References eBook & Resources Oifmiculty: 1 Easy Exercise 6-7 Segmented Income Prepare a segmented Statement [L06-4) income statement that Learning Objective: 06-04 differentiates traceable fixed costs from common fxnd costs and use it to make esc FI