Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $600,000, 30%, and $12,000, respectively. The North Divisions contribution margin and contribution margin ratio are $68,000 and 34%, respectively. The South Divisions segment margin is $40,000. The company has $60,000 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. 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).)

			Divisions
	Total Company		North		South
	Amount	%	Amount	%	Amount	%
Sales	$600,000	100.0	$266,667	100.0		100.0
Variable expenses
Contribution margin		30.0
Traceable fixed expenses
Territorial segment margin
Common fixed expenses
Net operating income