ences Shannon Company segments its income statement into its North and South Divisions. The company's overall sal ratio, and net operating income are $1,080,000, 42%, and $21,600, respectively. The North Division's contributio contribution margin ratio are $165,600 and 46%, respectively. The South Division's segment margin is $187,200. $280,800 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 divis the company as a whole and for each segment, show each item on the segmented income statements as a perce your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).) Sales Variable expenses Contribution margin Traceable foxed expenses Territorial segment margin Common fixed expenses Divisions Total Company Amount North South % Amount % Amount 1,080,000 280.800 ences Shannon Company segments its income statement into its North and South Divisions. The company's overall sal ratio, and net operating income are $1,080,000, 42%, and $21,600, respectively. The North Division's contributio contribution margin ratio are $165,600 and 46%, respectively. The South Division's segment margin is $187,200. $280,800 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 divis the company as a whole and for each segment, show each item on the segmented income statements as a perce your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).) Sales Variable expenses Contribution margin Traceable foxed expenses Territorial segment margin Common fixed expenses Divisions Total Company Amount North South % Amount % Amount 1,080,000 280.800