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c 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
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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 $380,000,34% and $7,600, respectively. The Nonth Division's contribution margin and contribution margin tatio are $83,600 and 38%, respectively. The South Division's segment margin is $19,200. The company has $45.600 of common fixed expenses that cannot be traced to either division Required: Prepare an income statement for Shannon 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 segmented income statements as a percent of sales. (Round your percentoge onswers to 1 decimal ploce (i.e. 1234 should be entered as 12.3).) Step by Step Solution
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