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 $350,000, 32%, and $7,000, respectively. The North Division's contribution margin and contribution margin ratio are $75,600 and 36%, respectively. The South Division's segment margin is $15,400. The company has $38,500 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. 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. 0.1234 should be entered as 12.3).)