Shannon Company segments its income statement in its North and South Division. The companys overall sales, contribution margin ratio, and net operating income are $500,000, 46%, and $10,000, respectively. The North Divisions contribution margin and contribution margin ratio are $150,000 and 50%, respectively. The South Divisions segment margin is $30,000. The company has $90,000 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 divisions. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3))

\begin{tabular}{|c|c|c|c|c|c|c|} \hline & & & \multicolumn{4}{|c|}{ Divisions } \\ \hline & \multicolumn{2}{|c|}{ Total Company } & \multicolumn{2}{|c|}{ North } & \multicolumn{2}{|c|}{ South } \\ \hline & Amount & % & Amount & % & Amount & % \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}