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Shannon Company segments its income statement in its North and South Division. The company's overall sales, contribution margin ratio, and net operating income are $500,000,46%,

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

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