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ABC Company segmems its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $720,000,44%,
ABC Company segmems its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $720,000,44%, and $14,400, respectively. The North Division's contribution margin and contribution margin ratio are $129,600 and 48%, respectively. The South Division's segment margin is $76,500. The compary has $122,400 of common fixed expenses that cannot be traced to either division Required: Prepare an income statement for ABC Compary that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segniented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e 1234 should be entered as 12.3).)
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