Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $660,000, 50%, and $33,000, respectively. The North Divisions contribution margin and contribution margin ratio are $202,500 and 75%, respectively. The South Divisions segment margin is $56,000. The company has $99,000 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))

My Response is below but I believe it is incorrect. You are supposed to fill out this spreadsheet with the data.

Divisions Total Company North South Amount Amount Amount Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income $ 660,000 330,000 330,000 198,000 132,000 99,000 $ 33,000 100.0472,500 270,000 202,500 70,875 71.6 $ 187,500 57.1 14.5 15.0 (0.5) $99,375 28.4 32.0 (3.6) 15.0 (18.6) 60,000 127,500 28,125 50.0 50.0 15.0 35.0 $ 131,625 15.0 20.0