Shannon Company segments its income statement in its North and South Division. The companys overall sales, contribution margin ratio, and net operating income are $460,000, 50%, and $36,800, respectively. The North Divisions contribution margin and contribution margin ratio are $127,500 and 75%, respectively. The South Divisions segment margin is $36,000. The company has $55,200 of common fixed expenses that cannot be traced to either division.

Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions:

Divisions Total Company North South Amount % Amount % Amount % Sales Variable expenses Contribution margin 0 0.0 0 0.0 0 0.0 Traceable fixed expenses Territorial segment margin 0 0.0 $ 0 0.0 0 0.0 Common fixed expenses Net operating income $ 0 0.0