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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 $1,140,000,
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 $1,140,000, 46%, and $22,800, respectively. The North Division's contribution margin and contribution margin ratio are $190.000 and 50%, respectively. The South Division's segment margin is $212.800. The company has $319,200 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).) North Total Company Amount Divisions South Amount Amount %
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