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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 $1,080,000,
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 $1,080,000, 42%, and $21,600, respectively. The North Division's contribution margin and contribution margin ratio are $165,600 and 46%, respectively. The South Division's segment margin is $187.200. The company has $280,800 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 (le 1234 should be entered as 12.3)) Total Company Amount North Amount Divisions South Amount 54 %
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