Exercise 7-7 Segmented Income Statement [LO7-4] 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 $1,170,000, 48%, and $23.400, respectively. The North Division's contribution margin and contribution margin ratio are $202,800 and 52 % , respectively. The South Division's segment margin is $226.200. The company has $339,300 of common fixed expenses that cannot be traced to either division Requlred: 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 (1.e. 0.1234 should be entered as 12.3).) Divisions Total Company North South Amount % Amount Amount %