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 $720,000,44%, and $14,400, respectively. The North Division's contribution margin and contribution margin ratio are $129,600 and 48%, respectively. The South Division's segment margin is $76,500, The company has $122,400 of common foced 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, 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 (i.e .1234 should be entered as 12.3).) (8 Answer is complete but not entirely correct. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline & & \multirow{2}{*}{\multicolumn{2}{|c|}{ Total Company }} & \multicolumn{4}{|c|}{ Rivisions } \\ \hline & & & & \multicolumn{2}{|l|}{ North } & \multicolumn{2}{|c|}{ South } \\ \hline & & Amount & % & Amount & % & Amount & % \\ \hline Sales & 0 & $72,000 & 100.0 & $270,000 & 100.0$ & $450,000 & 100.0 \\ \hline Variable exponses & 0 & 403,2000 & 56.00 & 140,4000 & 52.00 & 262,800 & 58.0 \\ \hline Contribution margin & 0 & 316,800 & 44.00 & 129,6000 & 48.00 & 187.2000 & 42.0 \\ \hline Traceable fixed expenses & 0 & 180,000 & 25.00 & 69,300 & 26.0 & 110,7000 & 25.0 \\ \hline Ternitorial segment margin & 0 & 136,800 & 19.00 & 60,300 & 22.0 & 76,500 & 17.00 \\ \hline Common fixed expenses & 0 & 122,4000 & 17.00 & & & & \\ \hline Net operating income & 0 s & $14,400 & 2.00 & & & & \\ \hline \end{tabular}