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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 $720,000.

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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 $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 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 %

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