Exercise 6-7 (Algo) Segmented Income Statement (L06-4) 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 $900,000, 30%, and $18,000, respectively. The North Division's contribution margin and contribution margin ratio are $102,000 and 34%, respectively. The South Division's segment margin is $120,000. The company has $180,000 of common fixed expenses that cannot be traced to elther division. Required: Prepare an income statement for Shannon Company 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 percentage answers to 1 decimal place (le .1234 should be entered as 12.3).) Division Amount Amount Total Company Amount $ 900,000 630,000 270,000 100.0 70.01 30.0 Sales Variable expenses Contribution margin Traceable foed expenses Territorial segment margin Common fixed expenses Net operating income